Sat, Nov 21 2009

Bulgargas predicts 12% gas price cut in Q2

Mon, Feb 09 2009 13:10 CET byNick Iliev 591 Views
The price of natural gas is expected to decrease in the second trimester of 2009, down to 543.61 leva per cu hectometre, excluding VAT, according to a Bulgargas spokesman, quoted by Investor.bg

The reduction of 71.05 leva is in light of the overall slump of prices of fossil fuels on international markets, as well as the alteration of the exchange level of the US dollar and Bulgarian lev, the Bulgargas statement says.

Bulgargas' final statement regarding the price of blue fuel for the second trimester will be confirmed immediately after the submission of its proposal to the National Commission for Energy and Water Regulation NCEWR on March 11. On the same day, all factors regarding fluctuations on global markets will be considered and incorporated within the new pricing.

According to article 36 from the energy bill, Bulgargas has to declare proposed changes in prices within a month of submitting its documentation to the NCEWR every trimester. The company is obliged to inform the agency and the public via the media.

Write comment

Name:Comment:

Generate new code
Send your comment
EC’s new rules to prevent and deal with gas supply crises

Proposed regulation would strengthen the existing EU system for gas supply security by ensuring that all member states and their gas market players take effective action well in advance to prevent and mitigate the consequences of potential disruptions to gas supplies, the EC says.

Bulgargas shuts gas supply to Kremikovtzi

Bulgargas pulls the plug on the ailing steel plant. More than 105 million leva of debt, and a monthly loss of 10 million leva to the gas company and the National Electric Company (NEC) in the middle of economic crisis is simply unsustainable.

Stopped road projects to be re-opened on February 19

After being put on hold in September 2008, the refurbishment of numerous Bulgarian roads is set to start up again.

The Haskovo ultimatum

The banking sector's inadequate financial policies are responsible for the abysmal state of Bulgaria's construction sector, the Chamber of Bulgarian Constructors claim.

Plovdiv Airport upgrades to cost 36M leva

New terminal, augmented infrastructure, new electric and lighting system and new water supply and disposal network for the Plovdiv Airport – the total cost has soared by 15 million leva since December 15 2008.

Bulgarian Energy Holding to begin surveying on future Bulgaria-Greece gas pipeline

The European Commission has released 20 million euro for the Haskovo – Komotini gas pipeline. Estimates peg the total cost of the project at 120 million euro.

Deputy Prime Minister: Bulgaria cannot demand compensation in the wake of gas crisis

Kalfin claims that the gas crisis was between firms, not countries, therefore Bulgaria cannot seek compensation.

No headway in Bulgarian-Russian talks on gas crisis compensation

Russia remains adamant that it is not to blame for the disruption of gas supplies in January, saying any demands for compensation should be addressed to Ukraine

Kremlin moots buy of Bulgaria Overgas stake

In the wake of January's gas crisis, which prompted Bulgarian authorities to call for eliminating middle-men, Gazprom is considering a plan to increase its stake in one of the companies that deliver gas to Bulgaria, reports in Russia claim.

More in this category

Bulgarian MPs resurrect proposal to raise spirits excise

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.