Bulgaria's energy regulator approves 20.5% hike in Sept wholesale natgas price
Bulgaria's energy regulator said on Wednesday that it has approved an increase in the wholesale price of natural gas for September to 69.40 levs ($42.00/35.50 euro) per MWh.
The price applicable in August was 57.60 levs per MWh.
In its decision, the regulator took into account information about the market indices of the European gas hubs and the average euro/dollar exchange rate of the European Central Bank, the Energy and Water Regulatory Commission (EWRC) said in a statement.
The approved hike reflects the continuing growth in prices on the international gas markets, the EWRC also said.
The increase in the wholesale gas price in September is higher than expected. Last month, public gas supplier Bulgargaz proposed to the energy regulator to approve a wholesale gas price of 67.33 levs per MWh, to be valid in September.
Bulgarian energy regulations require Bulgargaz to set the gas price monthly. The energy regulator has the final say on the proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network.