Bulgaria Energy Regulator Approves 11% Gas Price Hike

Business » ENERGY | March 29, 2010, Monday // 18:04
Bulgaria Energy Regulator Approves 11% Gas Price Hike: Bulgaria Energy Regulator Approves 11% Gas Price Hike The Head of DKEVR, Angel Semerdzhiev, expects gas prices in Bulgaria to go up only by 6%. Photo by BGNES

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) gave Monday a green light for 11% gas price increase.

The decision was made during a meeting held behind closed doors. The Bulgarian gas supply company Bulgargaz, wants a 26% price hike while it is expected the cabinet will reduce the DKEVR price increase to 6%.

The Head of DKEVR, Angel Semerdzhiev, announced there is a possibility that the Minister of Economy and Energy, Traicho Triakov, can order a price lower than the one set by the Commission which will keep prices of heating and hot water at the current level or will lead to a very small price increase.

Traikov is on an official visit to Mexico and is expected to announce the 6% price increase upon his return. His Ministry will have to find a way to compensate Bulgargaz for the difference.

The labor unions demand a freeze on the prices, and are backed by the employers, who say a price hike will harm industrial productions using natural gas.

On Friday, Bulgaria’s Deputy PM and Finance Minister, Simeon Djankov, issued an order for the audit of the state natural gas monopoly Bulgargaz over accusations the supplier uses murky methods in determining prices.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: State Commission for Energy and Water Regulation, DKEVR, finance minister, Simeon Djankov, trade unions, Bulgargaz, natural gas, gas price, Council for Tripartite Cooperation, Angel Semerdzhiev
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria