December 28 (SeeNews) - Bulgaria's energy regulator said on Friday it has approved a 3.51% increase in the regulated wholesale gas price for the first quarter of 2019, in line with the proposal of state-owned gas supplier Bulgargaz.
The new price will be 44.80 levs ($26.2/22.9 euro) per MWh, free of VAT and excise, the Energy and Water Regulatory Commission said in a statement.
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 has the final say on proposed changes in the wholesale price, at which the 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 through a pipeline crossing the territories of Ukraine, Moldova and Romania.
(1 euro = 1.95583 levs)