Bulgarian gas monopoly Bulgargaz said it plans to proposea 3.4% hike in the wholesale price at which it sells natural gas to its clients as of October 1, in a move that will see the first gas price increase in the countrysince the fourth quarter of 2014.
Under the current plan, the tariff will go up by 9.55 levs to290.63 levs ($166.1/149 euro) per 1,000 cu m, VAT and excises excluded, reflecting projected higher prices of gas supplies and the dollar exchange rate, the company said on Wednesday in a notice on its website.
According to the local regulations, Bulgargaz must submit its final pricing proposal to the energy watchdogby September 10. The regulator has the final say on the wholesale tariff, which is adjustedeachquarter.
In the fourth quarter of 2014, the maximum price at whichBulgargaz could charge end-suppliers and customers connected to its gas transmission network was 603.44 levsper 1,000 cu m. Subsequently, it dropped substantially in line with global trends.
Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.
Bulgargaz is a subsidiary of Bulgarian Energy Holding (BEH), which pools all state energy assets.
(SEE News)
