Bulgargaz To Lose BGN 34 M If KEVR Confirms Decision on Gas Price
Bulgargaz expects a loss of BGN 34 M if the Energy and Water Regulatory Commission (KEVR) confirms the decision of the working group on the price of natural gas as of January 1, 2017, said the head of directorate Licensing Activity during an open meeting of the regulator.
Bulgargaz demanded a 13.53% increase in the price of gas but KEVR did not recognise the estimates of the company and reckoned that the price increase should be slightly less than 5% as of the beginning of 2017.
Bulgargaz think that, as a result of the corrections of KEVR, the price of gas for end consumers will be lower than the delivery price. He calculated that expected losses amount to BGN 24 M for the entire quarter for the trade with gas. The company will lose an additional BGN 10 M if the exchange rate of the USD to the BGN maintains its current level of BGN 1.78 to USD 1 over the next few months, reported investor.bg.
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