"Bulgargaz" Proposes 14.38% Increase in the Price of Natural Gas in December

The public gas supplier Bulgargaz has proposed a 14.38% increase in natural gas prices for December, to €66.83 per megawatt hour, compared with the price of €58.43 per megawatt hour approved by the Energy and Water Regulatory Commission (EWRC) for November. This is stated in the company's application, published in the EWRC's register.

The proposed price applies to Bulgargaz's sales to end suppliers and licensed companies engaged in the production and transmission of heat. It excludes access and transmission charges, excise duty and VAT.

In its justification, the company states that the proposed price is more than 20% lower than prices on European gas markets.

The price calculation takes into account the volumes of natural gas requested by customers for December. These will be secured through the supply contract with the Azerbaijani company, deliveries from the liquefied natural gas (LNG) terminal near Alexandroupolis, LNG supplies via Turkey, and withdrawals from the Chiren underground gas storage facility.

In its attached comparison of prices on European gas markets as at 9 November, Bulgargaz quotes bid/ask prices of €81.55/€82.05 per megawatt hour at the Dutch TTF hub, €83.305/€83.345 per megawatt hour at the German VTP, and €84.025/€84.175 per megawatt hour at the Austrian VTP. The quoted price at the Balkan Gas Hub on 9 November was €80.46 per megawatt hour.