Bulgargaz Expected to Seek 13% Cut in Gas Price

Bulgargaz is expected to ask Bulgaria's energy regulator on Wednesday to cut gas prices for consumers for the second quarter of the year by 13.3% compared to the prior quarter.

The cut is due to expected lower prices of natural gas in the April-June period of 2015, the state-owned gas supplier has announced on its website. Bulgaria is almost totally dependent on Russian gas imports to meet its needs.

Bulgargaz said it has projected to deliver gas to its consumers at BGN 522.69 per 1,000 cubic metres (excise and VAT excluded) in the second quarter of the year.

Under Bulgaria's Energy Law Bulgargaz sets gas prices quarterly following regulatory approval.