site.btaBulgargaz Proposes 60% Gas Price Hike in August

Public natural gas supplier Bulgargaz has proposed to sell natural gas in August at BGN 297.89 MWh (EUR 152.31 exclusive of excise duty and VAT), up by 60.01% on July's price of BGN 186.17 MWh, the company said on its website.

By comparison, the price of August gas on the European markets is over EUR 171 MWh.

On July 21, Bulgargaz filed an application with the Energy and Water Regulatory Commission for an increase in the August price by slightly over 54% to BGN 286.84 MWh.

Also on July 21, the Constitutional Court declared unconstitutional Parliament's election of Stanislav Todorov as chair of the regulator in February. At their last sitting on July 28, the MPs reinstated Ivan Ivanov as chairperson until a new one is elected.

The regulator will schedule a public discussion of the supplier's final proposal, to be followed by a closed-door meeting which will set the gas price for August.