Bulgargaz to rebate EUR 103 mln to consumers due to cheaper gas

Energy Trade

Photo by LCV / Shutterstock.com

State-owned gas company Bulgargaz will refund BGN 201 million (over EUR 103 mln) to its clients, reports the Bulgarian News Agency (BTA). 

Prime Minister Boyko Borissov is promising Bulgarians a gas rebate. Photo by LCV/Shutterstock.com

“We are paying back BGN 201,685,227,” Prime Minister Boyko Borissov said at the start of an extraordinary meeting of the government on June 8. 

Borissov said that there are no more intermediaries for Bulgaria’s gas pipes. “For this reason, the price of natural gas as of June 1, 2020, is 52% lower than this time last year,” he added.

Bulgargaz has already received a refund from Russia’s energy company Gazprom following a  March 2020 agreement for a decrease of the gas price as of August 2019 by over 40%, and that is what it will now start to distribute among its clients who have paid the higher price applicable prior to the settlement.

On June 2, the gas company sent out draft agreements to its clients indicating how much it owes them for the period from August 5, 2019 to March 31, 2020. It has said that it is ready to make the payments before waiting out the statutory 14-day period from the signing of the agreements, BTA adds.

ADVERTISEMENT

Wizz Air issues EUR 500 mln bond Transport

Wizz Air issues EUR 500 mln bond

1,438 new COVID-19 cases registered in Hungary Figures

1,438 new COVID-19 cases registered in Hungary

Gov't to roll out PIT exemption for Hungarians under 25 Government

Gov't to roll out PIT exemption for Hungarians under 25

Tourism nights down 85% y.o.y. in November 2020 Tourism

Tourism nights down 85% y.o.y. in November 2020

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.