Bulgargaz demands a 17.65% price increase in 2012

Yesterday the state-owned Bulgargaz company offered the price of natural gas to increase by 17.6%, in 2011. The company demanded that natural gas be raised by BGN 104.68 per 1000 cu m and its price be set at BGN 699.05 per 1000 cu m (VAT excluded), as of January 2012. “The increase is needed because of the rising prices of oil and gas oil on the world markets and because of the higher exchange rate of the US$ against the BGN,” stated managers from the gas company. According to their data, the US$ has appreciated by 3.65% against the BGN over the last three months. “The price should be increased because of decisions of the State Energy and Water Regulatory Commission, resulting in a total decline of 14.49% in fuel prices, which have been reduced four times recently,” explained officials from the public provider. They did not make it clear whether they still expected payment for the quarter.

If the proposal of Bulgargaz is accepted, the heating energy in the country would inevitably rise by over 10%. So far, the energy regulator has always found inner reserves in order to mitigate the price increase of natural gas. Experts from the SEWRC even stated that they did not expect any change in the price of the heating energy this winter. On 9 December, the gas company will submit a formal proposal for the new prices.

Meanwhile, it became clear that the Russian Gazprom company is ready to review its gas prices for European consumers, posted the Russian Novye Izvestia daily. According to the release, the European partners of the Russian company are dissatisfied with the supplier’s dictate and started to seek a review of their contracts last year. Natural gas prices were reduced as a result of negotiations or court decisions for some of the countries. The prices of Russian gas for European consumers increased by 15% in the last year alone.

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