Bulgaria’s utilities regulator decided on December 30 to raise the gas prices by 4.7 per cent starting January 1 2017, well below the 13 per cent hike requested by state-owned gas company Bulgargaz.
Bulgaria has cut gas prices repeatedly over the past two years as the drop in oil prices resulted in reduced import costs. After the increase, the new price will be 280.21 leva, or about 143.27 euro, for 1000 cubic metres, the Energy and Water Regulatory Commission said in a statement.
This figure does not include the shipping fee payable to grid operator Bulgartransgaz, set at 19.73 leva for 1000 cubic metres, nor the excise duties and the value-added tax.
Given that the price increase was below the five per cent threshold that would have qualified it as a “significant price change”, there would be no changes to the central heating or hot water regulated prices during the current winter heating season, the regulator said.
(Photo: Jayesh Nair)