May 20 (SeeNews) - Bulgaria's energy regulator said on Wednesday it has approved changes in wholesale natural gas prices for the January-March period, as public gas supplier Bulgargaz will reimburse its clients accordingly.
The approved changes are due to amendments in the gas supply contract between Bulgargaz and Russia's Gazprom among other pricing factors, the Energy and Water Regulatory Commission said in a statement.
In March, Bulgargaz negotiated a 40.3% cut in the price of Russian natural gas imports, backdated to August 5, 2019. Bulgargaz and Russia’s Gazprom changed the pricing formula, setting as its main component the price on the regional markets instead of that of petroleum derivatives.
The price for January will decrease by 14.12% to 37.82 levs ($21.20/19.34 euro) per MWh, the February price will fall by 23.23% to 33.81 levs per MWh, while the March price will be reduced by 31.65% to 30.10 levs per MWh.
In line with changes to Bulgaria's Energy Act as of April 24, Bulgargaz is obliged to recover funds under its contracts for the delivery of natural gas to the end suppliers and consumers directly connected to the transmission network, the regulator also said.
(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