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From Bulgaria
27.09.2016 16:07
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Bulgarian state-owned gas incumbent Bulgargaz has contested the plans of the Energy and Water Regulatory Commission (EWRC) to approve a lower than requested price hike of natural gas in the fourth quarter of 2016.
The EWRC said it plans to approve a 1.97% price increase from BGN 281.08/1000 cub. m to BGN286.60/1000 cub. m (no VAT and excise duty included). Bulgargaz, however, has requested a 3.27% increase to BGN 290.28/1000 cub. m. (BGN 1= EUR 0.51)
During a discussion at the regulator’s headquarters, Ivan Ivanov, head of the License Operations and Corporate Relations said that if the lower-than-requested price hike is approved, Bulgargaz will be left with no return on sales and would not be able to pay for operational costs.
Bulgargaz supplies natural gas to large-scale consumers connected to the gas transport grid and to gas distribution companies. Bulgargaz said it plans to supply a total of 945,402,000 cub. m of natural gas in Q4, 883,4 million cub. m of which would be supplied by Russia’s Gazprom. The remaining 62 million cub. m of gas would be pumped from Bulgaria’s Chiren underground storage. The price fo natural gas at the entry of the national gas transport grid is BGN 264.70/1000 cub. m.
The energy watchdog is expected to take a final decision on September 30.
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