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Bulgargaz proposes 0.82% hike in Q4 wholesale gas price

Bulgargaz proposes 0.82% hike in Q4 wholesale gas price Denys Prykhodov/

SOFIA (Bulgaria), August 12 (SeeNews) -  Bulgarian public gas supplier Bulgargaz said that it has proposed a 0.82% hike in the wholesale price of natural gas, to be valid in the fourth quarter of 2019.

According to the proposal submitted to Bulgaria's energy regulator, the price will rise by 0.37 levs to 45.27 levs ($25.89/23.14 euro) per MWh, excluding VAT and excise duty, Bulgargaz said in a statement on Friday.

Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate.

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.

Bulgaria currently imports almost all of the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.

(1 euro = 1.95583 levs)