Bulgarian energy regulator approves 14.1% hike in natgas price for Nov

Bulgarian energy regulator approves 14.1% hike in natgas price for Nov

Bulgaria's energy regulator said that it approved an increase of the wholesale price of natural gas to 28.21 levs ($16.79/14.42 euro) per MWh in November from the price of 24.72 levs per MWh valid in October.

In its decision, the Energy and Water Regulatory Commission (EWRC) took into account the information about the market indices of the European gas hubs and the average euro/dollar exchange rate of the European Central Bank for the month of October, the regulatory body said in a statement on Sunday.

Under changes to Bulgarian energy regulations introduced earlier this year Bulgargaz is required to set the wholesale gas price monthly instead of quarterly.

Bulgaria currently imports almost all of the natural gas it needs from Russia.

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