Bulgaria's Energy Watchdog Ups Gas Prices by 4.5% for Q2

Angel Semerdzhiev, head of Bulgaria's State Commission for Energy and Water Regulation (DKEVR). Photo by BGNES

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) has decided to increase the natural gas price for the second quarter of 2011 by 4.47%.

DKEVR's final decision coincides with its earlier proposal that the marginal cost for Q2 should be BGN 532.14 per 1000 cubic meters value-added tax (VAT) excluded.

According to the watchdog's head, Angel Semerdzhiev, the lack of other reserves made it impossible to have a smaller increase. He added that the hike will not affect the price for central heating, which is integrated with the gas price.

Earlier, the state-owned gas supplier Bulgargaz had demanded an increase of 6.61%, up to BGN 543.05 per 1000 cubic meters VAT excluded.

Their request was based on the higher prices for alternative fuels on the international markets in the recent months.

Semerdzhiev noted that the price of natural gas for Q3 of 2011 might go down if the fuel prices on the international markets stabilize.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!