Bulgarian Energy Watchdog Proposes 4% Gas Price Increase

Bulgaria`s energy watchdog has dowsized Bulgargaz` proposal for a 7% gas prices hike to 4%+. Photo by BGNES

The price of natural gas in Bulgaria should go up by slightly over 4%, announced Tuesday Angel Semerdzhiev, head of the State Commission for Energy and Water Regulation (DKEVR).

In a media statement, the head of the energy watchdog rejected the proposal of state-owned Bulgargaz for a gas price increase of over 7% from July 01.

On June 10, Bulgargaz EAD suggested a Q3 gas price of BGN 568.92 per 1000 cu m, VAT excluded, or up by6.91% from the Q2 price approved by DKEVR.

According to Semerdzhiev, the updated gas tariff, which will be proposed by a working group of DKEVR, will cause heating rates to go up by about 2-3%. The gas price hike will have a different impact on the different municipalities, with the cost of central heating expected to stay the same in the Black Sea city of Burgas and Pleven in northern Bulgaria.

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