Bulgarian Energy Regulator Approves 0.60% Cut in Q3 Wholesale Gas Price

Bulgarian Energy Regulator Approves 0.60% Cut in Q3 Wholesale Gas Price

Bulgaria's energy regulator said on Friday that it has approved a 0.60% decrease in the regulated wholesale gas price for the third quarter of 2019, in line with the proposal of state-owned gas supplier Bulgargaz. The new price will be 44.90 levs ($26.1/23.0 euro) per MWh, free of VAT and excise, the Energy and Water Regulatory Commission said in a statement. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission has the final say on proposed changes in the wholesale price, at which the company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria imports most of the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

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