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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.

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