State-owned gas supplier Bulgargaz has submitted a proposal for a 3.22% decrease in gas prices in Q2, 2013 with Bulgaria's State Commission for Energy and Water Regulation (DKEVR).

Bulgargaz proposes a Q2, 2013 price of BGN 635.35 per 1000 cubic meters of natural gas, VAT and excise duty excluded.

Bulgargaz argues that the main reason for the price drop is the lower BGN/USD exchange rate.

Thee price proposal of Bulgargaz contains a 2% markup – BGN 11.91 per 1000 cubic meters, and BGN 8.09 per 1000 cubic meters to restore uncollected revenues of Bulgargaz.

Bulgargaz, a subsidiary of the Bulgarian Energy Holding (BEH), prepares and submits to DKEVR a proposal for prices of natural gas on a quarterly basis.