Bulgargaz Plans 13.65% Cut in Q4 Gas Price

State-owned Bulgargaz said on Monday it plans to cut natural gas price for consumers by 13.65% in the fourth quarter of the year due to an expected drop in the price of gas supplies.

Bulgargaz said in a statement it will propose to the energy regulator KEVR to set a price of BGN 418.14 per 1,000 cubic metres of gas in the last quarter of 2015, a decrease of BGN 66.12 compared to the third quarter. The price doesn’t include excise duty and Value Added Tax of 20%.

Bulgargaz, which sets gas prices quarterly, is obliged by law to announce publicly what prices it will ask the state energy regulator KEVR to approve for the next quarter a month before submitting its final proposal to KEVR.

In June, Bulgargaz asked KEVR to cut gas price by about seven percent in the third quarter.