Bulgaria's Energy Regulator to Lower Gas Price by 2.32% from January 1

Business » ENERGY | December 30, 2015, Wednesday // 14:14| Views: | Comments: 0
Bulgaria: Bulgaria's Energy Regulator to Lower Gas Price by 2.32% from January 1 File photo, BGNES

The Energy and Water Regulatory Commission (KEVR) of Bulgaria has adopted a decision to cut price of natural gas for consumers.

State-owned gas supplier Bulgargaz earlier in December proposed the price should be slashed by 2.1%.

KEVR itself, however, believes the decrease should amount to 2.3%.

Bulgargaz for its part insists prices should be decreased gradually until April, when a 10% drop is possible due to "favorable" conditions such as the slump in oil prices and some clauses within long-term contracts with Gazprom.

The supplier maintains the current decrease should be more cautious, with Bulgaria's own reserves currently being depleted.

At a session behind closed doors, KEVR has set natural gas price for consumers connected to the gas network and also for end suppliers will be BGN 405.45 per 1000 cubic meters (excise duties and VAT not included).

Natural gas prices went down 31.16% over the course of 2015, making industrial production (the biggest consumer of gas) more competitive, Ivan Ivanov, who head KEVR, is reported by Dnevnik.bg as saying.

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: gas, Gazprom, KEVR, Bulgargaz
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