Bulgaria Energy Regulator Approves 11% Gas Price Hike

Business » ENERGY | March 29, 2010, Monday // 18:04
Bulgaria Energy Regulator Approves 11% Gas Price Hike: Bulgaria Energy Regulator Approves 11% Gas Price Hike The Head of DKEVR, Angel Semerdzhiev, expects gas prices in Bulgaria to go up only by 6%. Photo by BGNES

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) gave Monday a green light for 11% gas price increase.

The decision was made during a meeting held behind closed doors. The Bulgarian gas supply company Bulgargaz, wants a 26% price hike while it is expected the cabinet will reduce the DKEVR price increase to 6%.

The Head of DKEVR, Angel Semerdzhiev, announced there is a possibility that the Minister of Economy and Energy, Traicho Triakov, can order a price lower than the one set by the Commission which will keep prices of heating and hot water at the current level or will lead to a very small price increase.

Traikov is on an official visit to Mexico and is expected to announce the 6% price increase upon his return. His Ministry will have to find a way to compensate Bulgargaz for the difference.

The labor unions demand a freeze on the prices, and are backed by the employers, who say a price hike will harm industrial productions using natural gas.

On Friday, Bulgaria’s Deputy PM and Finance Minister, Simeon Djankov, issued an order for the audit of the state natural gas monopoly Bulgargaz over accusations the supplier uses murky methods in determining prices.

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Tags: State Commission for Energy and Water Regulation, DKEVR, finance minister, Simeon Djankov, trade unions, Bulgargaz, natural gas, gas price, Council for Tripartite Cooperation, Angel Semerdzhiev
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