May 12 (SeeNews) - Bulgarian state-owned gas supplier Bulgargaz said that it is planning to propose to the energy regulator to approve a wholesale gas price of 44.72 levs ($27.74/22.86 euro) per MWh, to be valid in July.
The planned proposal takes into account the price-forming indicators as at May 11, Bulgargaz said in a statement on Tuesday.
The final proposal will be submitted for approval on July 1.
Last month, Bulgargaz said that it is planning to propose a price of 35.74 levs per MWh to be valid in June. The price valid for the month of May is 37.71 levs per MWh.
Bulgarian energy regulations were changed last year, requiring Bulgargaz to set the gas price monthly instead of quarterly. The Energy and Water Regulatory Commission (EWRC) has the final say on the proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network.
In March 2020, Bulgargaz negotiated a 40.3% cut in the price of Russian natural gas imports based on an agreement between the European Commission and Russia's Gazprom. Bulgargaz and Gazprom changed the pricing formula for Russian gas imports, setting as its main component the price on the regional markets instead of the price of petroleum derivatives.
(1 euro = 1.95583 levs)
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