Europe Natural Gas Prices Surge to EUR 29/MWh Following Russian Attack on Ukrainian Facility
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
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Bulgaria's State Commission for Energy and Water Regulation will further increase the planned drop in the price of the natural gas by more than 5% starting January 2011.
The state regulator has estimated that natural gas prices will drop with 28.02 (5.21%), reaching BGN 509.38 for 1000 cubic meters, which will allow the bills for central heating to drop with up to 5.71%.
On December 10 2010, Bulgaria's state-owned monopoly Bulgargaz has asked the state regulator to decrease the consumer price for natural gas in the first quarter of 2011 by close to 2%
On this occasion, Bulgargaz said that, taking into account the prices of energy on the world market, the BGN-USD exchange rate, the recent agreements for the price of Russian gas, and its deals with Melrose Resources, an UK company extracting natural gas off the Black Sea coast, it has offered the State Commission for Energy and Water Regulation (DKEVR) to reduce natural gas prices for consumers by BGN 9.6, or by 1.78% in the first three months of next year.
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