Bulgarian public gas supplier Bulgargaz said it is proposing a 7.29% decrease of the wholesale price of natural gas in the 4rth quarter, bulgarian Seenews reported on September 11, 2017.
According to the proposal, which Bulgargaz has submitted to the energy regulator for approval, the price has to drop by $210.8 per 1,000 cu m to 175.8 euro per 1,000 cu m, excluding VAT and excise duty.
Bulgargaz announced last month it was going to seek a 6% cut in the wholesale price of natural gas in the 4rth quarter.
Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate.
The Energy and Water Regulatory Commission (EWRC) has the final say on the proposed change in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network.
Bulgaria imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.