site.btaRegulator Will Probably Okay 1.91 Per Cent Hike of Natgas Price, Effective July 1, as Requested by Bulgargaz

Regulator Will Probably Okay 1.91 Per Cent Hike of Natgas Price, Effective July 1, as Requested by Bulgargaz

Sofia, June 27 (BTA) - The Energy and Water Regulatory Commission (EWRC) will probably approve a 1.91 per cent increase in the price of natural gas, effective July 1, 2017, as requested by Bulgargaz. The request has been confirmed in a working group report that the EWRC considered at a public meeting on Tuesday.

Bulgargaz proposes that the price of natural gas rise to 370.21 leva per 1,000 cu m exclusive of VAT, excise duty and transmission charge.

"Natural gas may cheapen in October, if the prices of oil and petroleum products decline," said EWRC Chairman Ivan Ivanov. If the natural gas price falls by more than 5 per cent, the price of heat may drop as well.

A Bulgargaz representative told journalists that oil is bearish and has cheapened by 10 per cent since May.

The EWRC will adopt its decision on the new price of natural gas, effective July 1, at a closed-door meeting on June 30. At that meeting, the regulator will also set the price of electricity for the new regulatory period.