Bulgargaz Seeks 9.3% Cut in Gas Prices for Q1

Bulgargaz Seeks 9.3% Cut in Gas Prices for Q1

Bulgaria's gas monopoly Bulgargaz said it is seeking a 9.3% cut in the price of natural gas that local consumers will be charged in the first quarter of 2013.

The proposed reduction to 660.64 levs ($435.9/337.8 euro) per 1,000 cubic metres, value added tax excluded, comes as a result of the lower delivery prices agreed with Russia's Gazprom, the company said in a statement.

The price adjustment, made on a quarterly basis, must be approved by the Bulgarian energy regulator to take effect.

Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

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