Bulgaria: Gas price drop approved by energy regulator

12. July 2016. / SEE Energy News

Bulgarian Commission for Energy and Water Regulation (KEVR) has approved the natural gas price drop of 9.97 % in the third quarter of 2016, proposed by state-owned gas company Bulgargaz.

The new price as of 1 July will be 143.71 euros per 1,000 cubic meters of gas (without VAT), which is by 15.92 euros less than in the second quarter of this year.

In the third quarter, suppliers will sell gas to end consumers, which are connected to gas network of Bulgarian natural gas transmission system operator Bulgartransgaz, at the price of 147.73 euros per 1,000 cubic meters (without VAT).

In May, Bulgargaz proposed a decrease in natural gas prices for consumers of 9.97 % in the third quarter of 2016 due to expected drop in the price of natural gas supplies. According to Bulgarian energy law, Bulgargaz is obliged to inform the public on proposed changes of natural gas price, before submitting a formal proposal to KEVR.

At the end of March, KEVR announced that the price of natural gas in the second quarter of 2016 will be 159.65 euros per 1,000 cubic meters (excluding VAT) or some 17.17 euros/MWh, which is 23.02 % lower than in the first quarter of the year. Previously, KEVR decided to reduce the price of natural gas in the first quarter of 2016 by 2.3 % compared to the price in the last quarter of 2015. In total, gas prices in Bulgaria have dropped by 48 % since the beginning of 2016, transmits Serbia-energy.eu

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