Natural gas prices expected to rise as of 1st of October

There will be an increase in the price of natural gas for the last quarter of 2018, Ivan Ivanov the head of Bulgaria’s Energy and Water Regulatory Commison told journalists on 23^rd of August. The increase will depend on the price of crude oil on world markets.

Ivanov explained that on 10^th of September he expects to receive the final price application from Bulgargaz. Currently, the gas company predicts an increase for the last quarter of this year by about 15%.

He clarified that the the regulator will take into account the application, but will it be analysed and verified by the experts and by the end of September, the Commission will decide what the price of natural gas will be.

It will have an impact on the heating and hot water prices, because everything shows that the increase in the price of natural gas will be significant. This will come into force on 1^st of October. And the Commission really does not want to see an increase, which might then be in the middle of the heating season - from January 1st. We will, of course, track down the price movement and hope that this price, which will be determined from the 1st of October, at the beginning of the heating season, is maintained until April 1, 2019, Ivan ivanov, the Chair of EWRC said.