March 14 (SeeNews) - Public natural gas supplier Bulgargaz said on Tuesday that it is it proposing to the energy regulator to approve a wholesale gas price of 103.08 levs ($56.54/52.70 euro) per MWh for April, or 3.42% less than the price valid for March.
Bulgargaz is also predicting a 10.23% drop, to 92.54 levs per MWh, in the wholesale natural gas price for May compared to the initial price it requested for April, the state-owned company said in a press release.
At the start of this month, the Energy and Water Regulatory Commission (EWRC) approved a gas price valid for March of 106.74 levs per MWh, or 14.15% lower compared to February.
Bulgargaz will lodge its definitive price request for April with the energy regulator on April 1, taking into account the quotations of the price-forming components as of March 31. Regarding the May price, the public supplier will table its final price request to the EWRC on May 1, including the values of the price components as of April 30, it said.
Bulgaria covers roughly a third of its natural gas consumption using Caspian gas delivered from Azerbaijan via the Greece-Bulgaria interconnector.
In February, Bulgargaz launched an auction for the delivery of liquefied natural gas equivalent to at least 1.5 million MWh for April, through LNG terminals in Turkey.
(1 euro = 1.95583 levs)
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