KEVR approved 1.97 % gas price hike for Q4 – Bulgaria, 30 September 2016

Bulgarian Commission for Energy and Water Regulation (KEVR) reached the final decision on the change of the price of natural gas for the fourth quarter of 2016. As of 1 October, the price of natural gas will be increased by 1.97 %, which is slightly less than KEVR’s initial proposal of 2 %, but also significantly less than 3.27 % increase proposed by the Bulgarian state-owned gas company Bulgargaz earlier this month. This is the first time since the fourth quarter of 2014 that Bulgargaz has proposed an increase in the price of natural gas.
Thus, the price of natural gas in Bulgaria for the fourth quarter of the year will be 151.7 euros per 1,000 cubic meters or some 15.75 euros/MWh (excluding VAT). The increase is due to projected higher prices of gas supplies and the dollar exchange rate. In comparison, natural gas price in the fourth quarter of 2014 was 308.4 euros per 1,000 cubic meters. KEVR announced earlier that this increase in natural gas prices will not affect the price of heating and hot water supply.

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