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27.06.2017 17:14
Gas Price in Bulgaria to Remain Unchanged in Q4, if Oil Price Sticks to Below $50 Levels
Energy watchdog spoke of a possible decrease of natural gas price in October, should oil fall below $45

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The price at which Bulgarian gas incumbent Bulgargaz sells natural gas to utilities and consumers will remain unchanged in the fourth quarter of 2017, if oil remains below the $50 per barrel. The forecast of Bulgargaz was unveiled today for the Bulgarian media following a review by the Energy and Water Regulatory Commission (EWRC).

The energy watchdog has already said it would likely grant Bulgargaz the requested 1.91 per cent increase of natural gas price in Q3, up to BGN 370.21/1000 cub. m, before VAT, excise, and transport fees). The regulator also included a missed profit of BGN 50 m to be received by Bulgargaz via the gas price.

EWRC chairman Prof. Ivan Ivanov also went on to suggest that if oil falls below $45, there could be a decrease of natural gas price in October.

The energy watchdog is to announce its final decision on Q3 gas prices on July 30, along with a decision on regulated electricity prices.

TAGS: Bulgariam natural gas | oil | oil price | energy | energy regulation | Bulgargaz 

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