September 11 (SeeNews) - Bulgarian public gas supplier Bulgargaz said it is proposing a 7.29% decrease of the wholesale price of natural gas in the fourth quarter.
According to the proposal, which Bulgargaz has submitted to the energy regulator for approval, the price has to drop by 26.99 levs per 1,000 cu m to 343.22 levs ($210.8/175.8 euro) per 1,000 cu m, excluding VAT and excise duty, Bulgargaz said in a statement late on Friday.
Bulgargaz announced last month it was going to seek a 6% cut in the wholesale price of natural gas in the fourth quarter.
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