Bulgaria cuts Q1 gas prices by 0.05%

Gas monopoly Bulgargaz had earlier proposed a tariff hike of 2.07%.

The maximum price which the Bulgargaz can charge end-suppliers and customers connected to the gas transmission network as of January 1, is 603.14 levs ($378.4/308.4 euro) per 1,000 cubic metres, the State Energy and Water Regulatory Commission (SEWRC) said in a notice on its website.

The price at which the country's gas transmission system operator Bulgartransgaz can sell natural gas to customers who are connected to its low-pressure network cannot exceed 610.86 levs per 1,000 cubic metres, it added.

The figures do not include value added tax and excise duties.

The regulator's decision was adopted on December 19 and can be appealed within 14 days before the Supreme Administrative Court.

Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

Both Bulgargaz and Bulgartransgaz are subsidiaries of the state-owned Bulgarian Energy Holding.

The adjustment - if any- in the wholesale tariff is made by the energy regulator on a quarterly basis.

(1 euro = 1.95583 Bulgarian levs)