SEWRC: The cost of natural gas will rise by 8.6% as of October

The cost of natural should rise by 8.6 % as of October 1, proposed yesterday the State Energy and Water Regulatory Commission (SEWRC) in its report. Should the proposal be adopted, as of next month, natural gas will cost BGN 605.15 per 1,000 cu m, VAT excluded. The state-owned Bulgargaz SPLTD demanded a nearly 14% increase in fuel prices but SEWRC limited the price hike after estimating the probable volume of fuel to be consumed during the winter.

The Commission will not allow the state-owned gas provider to obtain its outstanding receivables for the previous quarters. Currently, the total amount is being calculated. Should there be a new price hike of natural gas as of early January, it will be affected by this uncollected income.

The price hike in natural gas will also affect the cost of central heating. In July, natural gas prices rose by 4.7% and along with the current price surge, the price of central heating is expected to reach over 5% on average for Bulgaria.

The Minister of Economy and Energy, Traicho Traikov invited Bulgarian companies to invest in the energy sector of Georgia, where, currently, 15 small hydropower plants are being constructed. Traikov participated there in a business forum jointly with a delegation of 20 Bulgarian managers. Our companies could also invest in construction of hotel complexes, added he.

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