October 1 (BTA) - The energy regulator Friday approved the proposal of state-owned gas supplier Bulgargaz for a natural price of 94.54 leva/MWh as of October 1. It is an increase by 36.22 per cent from the price in September.

The decision was made at a closed-door meeting of the regulator and was made public by its press office.

The new price reflects the market indeces of the European gas hubs as of September 30 and the foreign exchange rates.

It follows the steep upward trend of gas prices on the international markets, where prices gained 50 per cent in September, the regulator says.

According to Bulgargaz, the price it proposed for the Bulgarian market is some 20 per cent lower than the price on the European gas hubs.

When it considers the proposed price, the regulator takes into consideration the cost of gas at the entrance of the transmission network, the cost of storage in the Chiren gas storage facility of amounts as per the action plan for emergencies. It also reflects the consumption estimate for the domestic market and the terms of the supply contracts. LN/
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