Natural resources

Albania Prime Minister Edi Rama. Photo: LSA

However, Ornela Liperi, editor of Albania's weekly economic magazine Monitor, told BIRN the Prime Minister might be exaggerating to justify an unpopular coming price rise.

"Bulgargaz" asked the Energy and Water Regulatory Commission to increase the price of gas for October by a shocking 36.2% compared to the previous month. This is extremely surprising, because the previous request was for a jump of "barely" 16%. The nominal expression of the requested increase means that a megawatt-hour will cost a little over BGN 94.

The price of November futures in the Dutch gas hub TTF jumped to 100 euros per MWh at the opening of this morning, or to 1,199.44 dollars for 1,000 cubic meters, but later dropped by 1.7 percent to about 1,150 dollars, reports TASS.

exacerbated fuel shortage crisis In the UK over the weekend amid "panic buying" from motorists so anxious that the government announced on Monday evening, it had asked the military to stand by for deliveries if needed.

The energy crisis is becoming global, Bloomberg predicts today. Countries are increasingly relying on natural gas for efforts to stop burning more coal and switch to cleaner energy sources. Countries are bidding to stockpile blue fuel, and exporters like Russia are restricting exports. The situation will worsen when temperatures drop, the agency predicts.

Prime Minister Florin Citu said, on Wednesday, that an ordinance aimed at subsidizing energy and gas prices was discussed in first lecture, among other topics, in the Government sitting. "It's about subsidizing the prices for energy and gas. I had a very good talk in the Government session today.

Bulgaria's Energy and Water Regulatory Commission (EWRC) has endorsed a price of 45.27 leva/MWh for natural gas, effective June 1, 2021, the regulator said in a press release on Monday.

The new price, which excludes the charges for access, transmission, excise duty and VAT, is 20 per cent higher than its May 1 level (37.71 per cent) and 122 per cent up from June 1, 2020.

Romania will not benefit from European funds through the National Recovery and Resilience Plan (PNRR) for the irrigation system, Deputy Prime Minister Dan Barna declared on Wednesday evening.

The Energy and Water Regulatory Commission (EWRC) decided to increase the price of natural gas backdating it from April 1.

New price will be to 33.19 BGN per megawatt-hour (excluding excise, VAT, storage and transmission fees), which means that the price is increased by almost 16 percent.

Consequently, adequate measures will be proposed by the Ministry, regarding the increase in the price of sunflower oil, with some forecasts plummeting up to 200 dinars per liter.