[ad_1]
After a steady decline in gas prices for several months, the reverse trend began in August, with the main European indices rising more than 50% for supplies in September and more than 100% for those in October, compared to August levels. . Including this in the same formula, which until last month entailed a price reduction, now the EWRC has calculated that there should be an increase of just over 20% for September compared to August. This is however the so-called market risk, which reflects much more directly what is happening in the economy, while the old formula under the contract with Gazprom had no such correlation.
Where is the problem
However, Prime Minister Borissov seems to understand the market only as a downward movement. With his action yesterday, he literally destroyed the entire logic of the agreement between the EC and Gazprom, as well as the negotiations carried out by Bulgargaz with the Russian company.
In his order, last night Energy Minister Temenujka Petkova issued an extraordinary order to Bulgargaz to withdraw the request for a new gas price submitted to the EWRC. This procedure is not foreseen by law, but it is officially said that the way in which the new higher gas price is calculated will be checked. In practice, it is a completely populist movement, as the formula has been the same for seven months and is enshrined in the March contract with Gazprom, which was modified in March.
