In accordance with the requirements of Article 36а of the Energy Act, one month prior to filing the application on change in effective quarter prices to the State Energy and Water Regulatory Commission (SEWRC), Bulgargaz EAD, a daughter company of Bulgarian Energy Holding EAD, should announce such change in the mass media.
It has been taken into account the impact of the following factors – quotations level of alternative fuels at the Mediterranean commodity exchange as well as US Dollar/BGN ratio. A constant trend regarding increase of the values of the two groups of factors has been observed. Therefore, Bulgargaz EAD informs its customers that the forecast pricefor public supply of natural gas for the second quarter of 2012 should be BGN 786.43 per thousand m3, VAT excluded
The increase of BGN 166.27 per thousand m3 (26.81%) has taken into consideration the conditions of Article 17, Paragraphs 1 - 6 of the Natural Gas Price Regulation Ordinance, and does not include Bulgargaz EAD’s outstanding revenue from previous periods. Additional impact is being caused by UGS Chiren’s transition from mode production into mode injection i.e. filling up the used during the current heating season natural gas stock. The value of the price increase is also due to the difference between the proposed by Bulgargaz EAD price for the first quarter of 2012 and the public supply sales price, actually approved by SEWRC.
All additional changes, causing impact on pricing factors, (oil products price, US Dollar/BGN exchange rate and gas volumes) shall be taken into account in the final Bulgargaz EAD proposal on natural gas price for the second quarter of 2012, which shall be published upon its filing to SEWRC - 09.03.2012.