site.btaNatural Gas Price to Go Up by 4.65% from January 1, Heating, Electricity Remain Unchanged

Natural Gas Price to Go Up by 4.65% from January 1, Heating, Electricity Remain Unchanged

Sofia, December 30 (BTA) - The Energy and Water Regulatory Commission on Friday decided to increase the price of natural gas by 4.65 per cent from January 1 2017. State supplier Bulgargaz requested an increase by 13.53 per cent, commission chair Ivan Ivanov told journalists.

The price is set at 280.21 leva per 1,000 cu m, with VAT and excise duty excluded. It doesnТt include transmission charges and until they are set under the new rules, adopted by the regulator, clients will pay 19.73 leva per 1,000 cu m to Bulgartransgaz.

Bulgargaz says that the new price will cause losses of over 35 million leva to the company. However, the Commission argued that the company has 40 million leva in advance receipts (due to the difference between the commodity and regulated price) and the new price will offset over 22 million.

The prices of heating energy and electricity won't be increased, said Ivanov.