September 1 (SeeNews) - Bulgarian public gas supplier Bulgargaz said on Thursday it is proposing that the energy regulator approve a definitive increase in the wholesale natural gas price applicable for September to 353.63 levs ($180.44/180.80 euro) per MWh - a hike of 18.7% month-on-month.
By comparison, prices of natural gas for September delivery on the European spot markets exceed 232 euro ($231.58) per MWh, Bulgargaz said in a statement.
The proposed definitive increase of 18.7% is higher than the initial proposal submitted to the regulator by Bulgargaz last month. In mid-August, Bulgargaz proposed to the Energy and Water Regulatory Commission (EWRC) to approve a 5.9% monthly increase in the gas price for September, to 315.61 levs per MWh. The proposal came following the approval by the energy regulator of a 60% monthly hike in the gas price for August, to 297.89 levs.
Earlier this week, Bulgargaz said that its price proposal for September is likely to be revised upwards in light of the rising gas prices on international markets. Bulgargaz also said that it has secured all required quantities of natural gas for September, in part due to holding auctions on the Balkan Gas Hub last month.
(1 euro = 1.95583 levs)
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