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Heating Rates in Bulgaria to Drop by 7% from January 2013

Business » ENERGY | November 27, 2012, Tuesday // 12:58| Views: 785 | Comments: 0
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Bulgaria: Heating Rates in Bulgaria to Drop by 7% from January 2013 Angel Semerdzhiev, Chair of Bulgaria's State Commission for Energy and Water Regulation (DKEVR), has predicted a decrease in heating tariffs by at least 7% from January 2013. Photo by BGNES

Angel Semerdzhiev, Chair of Bulgaria's State Commission for Energy and Water Regulation (DKEVR), has predicted "an unprecedented" decrease in heating tariffs by at least 7% from January 2013.

His forecast is based on the anticipated 5-7% reduction in gas prices for end consumers after the discount stipulated in Bulgaria's new gas supply contract with Russian Gazprom.

Under the new direct contract, which was signed on November 15, gas prices for Bulgaria may drop by over 20% compared to the January 1, 2012 tariffs.

Bulgaria's expiring gas supply contract with Gazprom included an 11% discount which entered into force in April and will apply until end-December 2012.

In his Tuesday Semerdzhiev, clarified that concrete figures would be available after the submission of the proposal of state-owned gas supplier Bulgargaz for the period January 1, March 31, 2013.

Bulgargaz is to submit its proposal with DKEVR by December 10 but company representatives vowed to table the report sooner.

The Chair of Bulgaria's energy watchdog assured that consumers would notice the gas price decrease in their February bills.

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Tags: DKEVR, State Commission for Energy and Water Regulation, Angel Semerdzhiev, heating prices, heating utility, Bulgargaz, gas prices, Gazprom
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