Bulgaria’s utilities regulator decided on September 16 to raise gas prices in the country by 20.3 per cent starting September 1, setting the new price at 22.46 leva a MWh, excluding transportation costs, excise and value-added tax.
The Energy and Water Regulatory Commission (EWRC) said that the new price reflected the price movements on the main European gas hubs and the exchange rate between the euro and the US dollar.
EWRC usually sets the gas price at the beginning of the regulatory period, but this time the process was suspended in order to verify the calculations by state gas trading company Bulgargaz, whose requests form the basis of the price set by the regulator.
After Bulgargaz’ price hike request was found to be in order, the regulator set the new price, which will apply retroactively to the start of this month, EWRC said.
(Photo: Jayesh Nair)
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