Bulgarian Energy, Water Regulator Proposes 2% Increase in Natural Gas Price
The Energy and Water Regulatory Commission (KEVR) will decide in an open session on Tuesday whether to raise the price of natural gas as of October 1.
The regulator proposed to raise the price of gas by nearly 2% for the last quarter of 2016 due to price changes on world markets.
The proposed increase is less than the 3.27% demanded by Bulgargaz. The price of natural gas is the decisive factor in determining the prices of heating and hot water in Bulgaria. These, however, can change only if there is an increase or a decrease of 5% in the price of natural gas.
The Energy Law requires Bulgargaz to inform the public about planned changes in the price of natural gas a month before submitting a formal proposal to the Bulgarian water and energy regulator KEVR.
Bulgaria relies almost entirely on imports of Russian gas to meet its needs.
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