November 2 (SeeNews) - Bulgaria's Energy and Water Regulatory Commission (EWRC) approved a slight cut in in the wholesale price of natural gas for November compared to the October level - to 93.19 levs ($55.22/47.65 euro) per MWh.
The price applicable in October was 94.54 levs per MWh.
The EWRC decision takes into account an agreement reached between public natural gas supplier Bulgargaz and Russia's Gazprom Export for delivery in November of gas volumes that were not received in previous periods and will be paid for by Bulgargaz at a significantly lower price compared to current market prices on European gas hubs, which leads to a significant reduction in the price mix for the Bulgarian market, the regulator said in a statement on Monday.
Last month, Bulgargaz proposed to the energy regulator to approve a 32% increase in the wholesale gas price to 124.76 levs per MWh, to be valid for the month of November.
Bulgarian energy regulations require Bulgargaz to set the gas price monthly. EWRC has the final say on the proposed changes in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network.
(1 euro = 1.95583 levs)
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