Price of Natural Gas in Bulgaria to Drop by 14.26% as of October

Business » ENERGY | September 24, 2015, Thursday // 00:07| Views: | Comments: 0
Bulgaria: Price of Natural Gas in Bulgaria to Drop by 14.26% as of October Photo by BGNES

Bulgaria’s energy watchdog has proposed a 14.26% reduction in the price of natural gas to a rate of BGN 484.26 per 1000 cubic meters, VAT excluded, excise duty excluded, as of October.

The proposal of the working group of the Commission for Energy and Water Regulation (KEVR) in connection with the quarterly change of prices of state-owned gas supplier Bulgargaz was discussed at an open meeting of the energy watchdog on Wednesday.

During Wednesday’s meeting, the CEO of Bulgargaz, Pepi Ivanov, as cited by dnevnik.bg, expressed his agreement with the proposed price change.

Bulgargaz initially sought a 13.65% decrease.

However, the Chair of KEVR, Ivan Ivanov, suggested one month ago that the price drop would exceed 14%.

As a result, the total gas price decrease for 2015 will reach 30%, as compared to 4.3% for 2014.

The final decision on the price of natural gas as of October is to be adopted by the energy watchdog on September 30.
The prices at which Bulgargaz will buy gas from Russia’s Gazprom are 15% lower than the Q3, 2015 rates.

As is usual in the winter period, the quantities of gas purchased by Bulgargaz go up by 56% from the amount bought in the period July-September.

The price of heating as of October will also drop, with the largest increase of 7.2% to apply to customers of the Sofia heating utility, Toplofikatsiya Sofia.

Other towns and cities across Bulgaria will experience a reduction in heating tariffs by 1.5%-4.3%, the only exception being Plovdiv, where heating prices will go up by 0.19%.

Asked to comment on the matter, KEVR Chair Ivan Ivanov was unable to specify the reasons behind the increase.

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Tags: Bulgargaz, natural gas, gas prices, KEVR, Commission for Energy and Water Regulation, heating prices, Toplofikatsiya Sofia, heating utility
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