The price soared after Sofia rejected Russia’s request to pay for supplies in rubles
The price of natural gas in Bulgaria soared by 13.7%, the national news agency BTA reported on Friday.
Bulgaria’s Energy and Water Regulatory Commission (EWRC) has set a new price of BGL 162.17, or €82.83 per megawatt hour (MWh) from the April tariff of 72.83 €, depending on the agency.
The EWRC said the increase will have minimal impact on household bills as the heating season is over. The regulator attributed the price hike to the freezing of supplies from Russia.
Russian energy giant Gazprom suspended gas exports to Bulgaria and Poland in late April after refusing to make ruble payments.
In March, Russian President Vladimir Putin asked states that imposed sanctions on Russia and still import its gas to use Russian currency for transactions. Several EU countries agreed to Moscow’s request.
Bulgargaz, Bulgaria’s largest natural gas distribution company, said Azerbaijan would supply the country’s entire supply from this summer, but at a higher price. Later, Bulgaria plans to connect to a still unfinished liquefied natural gas (LNG) terminal in Greece, where the gas will be imported by ship, probably from the United States.
Earlier this month, the Bulgarian Federation of Industrial Energy Consumers (BFIEC) said industrial workers were preparing to protest against soaring gas prices. Bulgarian companies have called on the government to take action “to allow talks to resume with Gazprom” after the Russian company cut off the country’s gas supply.
For more stories on economics and finance, visit RT’s business section
You can share this story on social media: