Bulgarian Energy Watchdog: Up to 4.5% Gas Price Hike for Q2

Business » ENERGY | March 25, 2011, Friday // 14:11
Bulgaria: Bulgarian Energy Watchdog: Up to 4.5% Gas Price Hike for Q2 According to the DKEVR head, Angel Semerdzhiev, the natural gas prices will not go up by more than 4.5% in Q2 of 2011. Photo by BGNES

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) has annoucned it will not allow an increase of natural gas prices from Q2 of 2011 by more than 4.5%.

The head of the energy watchdog, Angel Semerdzhiev, said Friday that the price of heating, which depends of the price of natural gas, will not go up.

"For now, our position is that we can afford to not increase the price of heating," Semerdzhiev said, but added that the final decision will be made when the exact price of natural gas for Q2 of 2011 is established.

Bulgaria's state-owned company Bulgargaz requested an increase of 6.61%, which means that natural gas would cost up to BGN 543.05 per 1000 cubic meters. At present, the price is BGN 509.38 per 1000 cubic meters.

"At this point we think that price for natural gas should not go up that much. We would not allow an increase of more than 4.5%," Semerdhziev said.

In his words, maintaining the same price in the second quarter of the year will not lead to an unacceptable hike in the price for the third quarter.

The final decision on the increase of natural gas price will be taken by DKEVR at a closed session on March 31.

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Tags: DKEVR, State Commission for Energy and Water Regulation, Angel Semerdzhiev, natural gas, price, heating

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