October 1 (SeeNews) - Bulgaria's energy regulator said on Friday that it has approved an increase in the wholesale price of natural gas for October to 94.54 levs ($56.10/48.30 euro) per MWh.
The price applicable in September was 69.40 levs per MWh.
In its decision, the regulator took into account information about the market indices of the European gas hubs and the average euro/dollar exchange rate of the European Central Bank, the Energy and Water Regulatory Commission (EWRC) said in a statement.
The approved increase reflects the continuing rise in prices on the international gas markets, which jumped by over 50% in September, EWRC noted.
The increase in the wholesale gas price in October is higher than expected. Last month, public gas supplier Bulgargaz proposed to the commission to approve a wholesale gas price of 80.28 levs per MWh as of October 1.
Also last month, Bulgargaz said that it expects that the price of natural gas in Bulgaria will increase to 84.39 levs per MWh in November. The expected price for November was determined based on data as of September 10, Bulgargaz said at the time.
Bulgarian energy regulations require Bulgargaz to set the gas price monthly. The energy regulator 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)
Bulgargaz EAD is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here