June 8 (SeeNews) - Bulgarian public gas supplier Bulgargaz said on Friday it has proposed an 18.05% increase in the wholesale price of natural gas, to be valid in the third quarter of 2018.
According to the proposal, the price will rise by 65.30 levs ($39.3/33.4 euro) to 427.12 levs per 1,000 cu m, excluding VAT and excise duty, Bulgargaz said in a statement.
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 change 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 imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.
(1 euro = 1.95583 levs)
Bulgargaz EAD is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here