Bulgaria’s Price hike on Gas

Bulgaraz, the monopolistic organization of gas supply in Bulgaria has proposed to increase its wholesale price of natural gas by 10.23%. The prices of the stem for heating water and gas were stable until 2013 according to the country’s energy surveyor. At a meeting of the State Energy and Water Regulatory Commission recently, the authorities discussed the prices of the utilities and they also tried to evade the increase by the year end. They are supposed to make a final decision by the September of the current year, as reported by the Bulgarian National Radio or BNR.

The company is supposed to submit its proposal to the Bulgarian energy regulator at the end of this year. The regulations of Bulgarian energy require Bulgaraz to set the gas price every four months. They take into account the global oil prices alongside the exchange rate of Dollar. ERWC or The Energy and Water Regulatory Commission has the final words of say on this proposal of price hike of the wholesale price rate at which Bulgaraz, the state owned organization of Bulgaria sells its natural oil to end suppliers and customers, connected directly to its transmission network.’
The gas price in Bulgaria fell around 31.16% and it has continued in falling so. Bulgaria is known to import its all natural gas supply directly from Russia, via a pipeline which crosses through Ukraine, Moldova and Romania.

Households and business fronts of Bulgaria are facing too much inconvenience due to the increased energy costs. The people of the country are protesting against this step which has created a big crunch in their household economy but it seems the Government cannot lend their ears to hear their plead. It is not the fault of the Bulgaraz though. The organization stated that the tumulus condition of the economy has led them to take this step. via novinite