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Bulgargaz proposes 1.94% cut in Q1 2020 wholesale gas price

Author Mario Tanev
Bulgargaz proposes 1.94% cut in Q1 2020 wholesale gas price Denys Prykhodov/Shutterstock.com

SOFIA (Bulgaria), December 11 (SeeNews) - Bulgarian public gas supplier Bulgargaz said on Wednesday that it has proposed a 1.94% decrease in the wholesale price of natural gas, to be valid in the first quarter of 2020.

According to the proposal, the price will fall by 0.87 levs to 43.98 levs ($24.92/22.49 euro) per MWh, excluding VAT and excise duty, Bulgargaz said in a statement on Monday.

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)

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