Bulgargaz Forecasts 5-6% Dip in Natural Gas Prices for May
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
Hungary and Poland voted against the EU's plan to voluntarily reduce gas consumption by 15% compared to the five-year average for the period from 1 August 2022 to 31 March 2023.
According to EU information, the mentioned countries are the only ones opposed to the initiative.
Budapest disputes the legitimacy of the European Union's plans, arguing that they affect the country's energy security, Reuters news agency reports. And Warsaw called the treaty's legal basis "flawed" and said that decisions affecting the energy balance of EU countries must be taken with the unanimous approval of all member states.
Nevertheless, the plan was approved as it received a qualified majority.
According to the EU Council decision, countries must voluntarily reduce their gas consumption by 15% within eight months. If during this period there is a critical drop in supplies, the European Commission, in agreement with the members of the Community, can declare a "Union-wide alert", which will mean that all EU countries that do not have the right to an exception must reduce consumption by 15% already now on a mandatory basis, and all saved gas quantities must be exported to the European market.
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