February 13 (SeeNews) - Bulgarian public gas supplier Bulgargaz has said it plans to propose to the energy regulator a 32.44% increase of the wholesale price of natural gas in the second quarter of 2017.
Bulgargaz is going to seek an increase of 90.89 levs per 1,000 cu m to 371.10 levs ($201.9/189.7 euro) per 1,000 cu m, excluding VAT and excise duty, Bulgargaz said in a statement on Friday.
The final proposal will be submitted to the energy regulator on March 10, the company added.
In December, Energy and Water Regulatory Commission approved a 4.65% rise in gas price in the first quarter of 2017, lower than the 13.53% increase proposed by Bulgargaz.
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)
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