Bulgaria's energy watchdog KEVR has adopted a modest increase in gas prices as of January 01, 2017, reported bulgarian Sofia news on December 20, 2016.
Starting from that date, the price per 1000 cubic meters should be BGN 280.21, or 5% higher than the current figure, the Energy and Water Regulatory Commission (KEVR) has proposed.
This goes against a proposal by the state gas supplier, Bulgargaz, which demands an increase of 13.53%, a move that would set the price at BGN 302.99.
There is no ground for such a sharp hike, KEVR has insisted after a workgroup meeting.
During the 4th quarter of this year, the price of gas is BGN 286.60 per 1000 cubic meters, a figure including a transit fee of BGN 19.73%.
Bulgargaz cited the higher natural gas prices, with Russian energy giant Gazprom (its main supplier) also increasing next quarter's delivery prices by 13.9% compared to the previous 3 months.
The Bulgarian currency (BGN)'s fall against the US dollar (USD) was another reason.
KEVR's proposal is expected to be discussed and possibly confirmed at a session open to the public on December 27, 2016.
To read this news in Russian.