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The Q1 2012 price of natural gas will go up by 4.34%, the State Commission for Energy and Water Regulation (DKEVR) announced after a closed session on Thursday.
Starting January 01, 2012, 1000 cu m of natural gas will cost BGN 620, VAT excluded, said DKEVR Chair Angel Semerdzhiev, as quoted by the Bulgarian National Radio (BNR).
The upcoming gas price hike will not result in higher central heating and hot water tariffs in the next quarter.
In early December, state-owned gas supplier Bulgargaz called for a 17.61% increase in prices of natural gas.
Bulgargaz based its request on its uncollected revenue and on claims that the energy watchdog had kept prices artificially low over the previous quarters.
In a Thursday interview for Darik radio, Bulgargaz CEO Dimitar Gogov explained that the company would certainly be piling up losses in the first three months of 2012.
News portal dnevnik.bg quoted Gogov as saying that Bulgargaz would appeal DKEVR's decision in court.
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