Mihail Andonov: The price of gas to go down by 22-23%, the decrease for end users expected at around 10%

“The price of gas which Bulgargaz will receive from Gazprom will go down by 22-23%, but this decrease cannot be valid for end users,” Mihail Andonov, Executive Director of the Bulgarian Energy Holding (BEH), told Darik radio on Saturday. “Now, after submitting an application for changing the price, I expect at least a 10% reduction in the price for consumers,” added BEH’s head.

“The decrease negotiated for until the end of 2012 plus 11.2% make some 22-23%. The achieved over 20% reduction is valid for the contract price and we also agreed a reduction for the April 1 - December 31 period in addition to the contract in force. Thus, the discount as of January 1, 2013 is based on the current contract,” explained Andonov.

According to him, the price at which Bulgargaz was selling gas had been below the cost at which it had been buying, while the price itself is regulated by the State Energy and Water Regulatory Commission (SEWRC).

Commending on the words of Dimitar Gogov, Executive Director of Bulgargaz, that the price decrease for end users will be some 6-7%, Andonov said that Gogov is protecting the interests of the company he manages, adding that there is an independent regulator, setting the end priced.

Andonov stated that if customers do not pay their liabilities on a regular basis, the price reduction will melt in a year or a year and a half and Bulgargaz will find itself in the same financial situation, in which it was until the other day. The 10% reduction in the price of gas will also affect the prices of electricity and central heating, he predicted.

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