Industrialists Demand Slash of  Gas Price by At Least 22.7 Per cent as of  April

Sofia, February 23 (BTA) - Industrial energy consumers insist on
cutting the price of natural gas by at least 22.7 per cent as
of April. The demand is included in a letter the Bulgarian
Federation of Industrial Energy Consumers sent to the ministers
of economy and of energy.

The industrial consumers argue that oil prices have reached a
five-year bottom while the price of natural gas for industrial
purposes in Bulgaria has not dropped. At the moment industrial
consumers pay more than 600 leva per 1,000 cu m of gas.

The letter says that the price of natural gas is strongly bound
to a basket of alternative oil fuels which at the current moment
of low oil prices should result in a sharp decline in the costs
for natural gas which, however, does not happen.

Calculations made by the Federation show that the regulated
price of natural gas in Bulgaria are close to the 2008 levels
when oil reached 145 dollars per barrel, whereas now the price
of petrol is almost thrice lower. The Federation argues that
given the huge difference in energy prices, the Bulgarian
economy cannot be competitive on the world markets.

The Federation says that state-run Bulgargas could take
advantage of the successful models for managing the forex risk.