Bulgaria’s energy regulator has endorsed a proposal of state-owned wholesale gas supplier Bulgargaz to cut natural gas price by 23.02% for the second quarter of 2016.

The latest cut takes to 48% the drop in gas price since the start of last year, the Energy and Water Regulatory Commission (KEVR) said in a statement on Thursday. 

The price of natural gas sold to end suppliers by Bulgargaz for the period April – June 2016 has been  set at BGN 312.21 per 1,000 cubic metres, free of VAT and excise.

Lower gas prices will lead to a drop in the price of central heating. Prices in Sofia will be cut by 5.64%, in Plovdiv – by 0.17%, in Varna – by 4.89%, in Burgas – by 4.33%, in Pleven – by 9.13%. The price of hot water supplied by central heating plants in the cities of Vratsa and Razgrad will drop by more than 11%, KEVR said.