Energy Watchdog Chair: There is no Way Money Can be Refunded to Consumers as a Result of Gas Price Reduction

Ivan Ivanov, chair of the Energy and Water Regulatory Commission stated that without amendments to the law there is no way money can be refunded to consumers as a result of the reduction in natural gas prices. He added that such a decision with retroactive effect would be annulled in court, BNR reported.

On 3 March it was announced that, by force of an agreement reached between Bulgargaz and Gazprom, the price of the natural gas supplied to Bulgaria by Russia is being reduced by 40.3 percent, down to EUR 13.44 (26.29 Leva) per megawatt hour. At the time Energy Minister Temenuzhka Petkova stated this would bring down the price of central heating retroactively.