Bulgargaz Proposes to Energy Regulator to Cut Gas Price by 23% for Q2

Business » ENERGY | March 12, 2016, Saturday // 00:50
Bulgaria: Bulgargaz Proposes to Energy Regulator to Cut Gas Price by 23% for Q2

Bulgargaz has proposed to cut natural gas price for consumers by 23.02% for the second quarter of 2016.

The state-owned gas supplier has proposed to energy regulator KEVR to endorse a price of BGN 312.21 per 1,000 cubic metres, free of VAT and excise, for April-June period.

The new price is BGN 93.35 lower than the price for the first quarter, Bulgargaz said in a statement on Friday.

The drop in gas price is bigger than the decrease planned by Bulgargaz last month. On February 11, the company informed the public that it intended to seek a cut of 20.64% in gas price for the second quarter of 2016.  

The Energy Law requires Bulgargaz to inform the public about planned changes in the price of natural gas a month before submitting a formal proposal to KEVR.

Bulgargaz has been lowering the price of natural gas since the start of 2015, shadowing the decline in global oil prices.



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Tags: Bulgaria, Bulgargaz, KEVR, price, gas
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