Bulgaria utilities regulator hikes gas prices by 14.1% for November 2020

Bulgaria utilities regulator hikes gas prices by 14.1% for November 2020

Bulgaria’s utilities regulator decided to raise gas prices in the country by 14.1 per cent starting November 1, setting the new price at 28.21 leva a MWh, excluding transportation costs, excise and value-added tax.

The Energy and Water Regulatory Commission (EWRC) said that the new price reflected the price movements on the main European gas hubs and the exchange rate between the euro and the US dollar.

This is the third consecutive month of double-digit gas price increases, after 20.3 per cent in September and 10.1 per cent in October.

Despite that, the November price is still well below what consumers paid in the first quarter of 2020, when the regulator set a price of 44.04 leva a MWh.

Even after Bulgaria agreed a retroactive price cut with its main gas supplier, Russia’s state-owned gas company Gazprom, the revised prices set by EWRC ranged from 37.82 leva a MWh in January to 30.1 leva a MWh in March.

EWRC said that the November gas price increase would not result in any changes to electricity or heating prices.

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