Bulgaria utilities regulator hikes gas prices by 29.6%

Written by on March 31, 2017 in Bulgaria - Comments Off on Bulgaria utilities regulator hikes gas prices by 29.6%

Bulgaria’s utilities regulator decided on March 31 to raise gas prices in the country by 29.6 per cent starting April 1, due to the “increased price of alternative fuels on international markets” and the stronger US dollar.

Despite the sharp increase in the regulated price for the second quarter of 2017, the price is still below the value at the start of 2016, the Energy and Water Regulatory Commission (EWRC) said in a statement – at 363.26 leva, or about 185.23 euro, for 1000 cubic metres for household consumers, value-added tax and excise excluded, compared to 405.56 leva in the first quarter of 2016.

The regulator also said that the gas price in Bulgaria had been cut by more than one half in 2013/2016.

The increase in gas prices is likely to result in higher central heating and hot water prices, with EWRC scheduled to rule on that next week. Bulgarian National Radio reported that price hikes are expected to range between 18 per cent and 38 per cent, but with the winter season over, the impact on the monthly utility bills is expected to be limited.

(Photo: Marco Caliulo/sxc.hu)

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