Bulgaria’s utilities regulator cuts natural gas price by 15.2% for June 2023

The Energy and Water Regulatory Commission approved the natural gas price for June at BGN 65.82/MWh, excluding access, transmission, excise and VAT. At this price, public supplier Bulgargaz EAD will sell natural gas to final suppliers and to entities which have been issued a licence for production and transmission of heat.

The utilities regulator approved the price after an analysis of the actual data submitted today, June 1, by Bulgargaz EAD, which form the natural gas price for June. They take into account quotations on international gas markets and the exchange rate up to and including 31 May.

The regulator found that the total estimated quantity for the domestic market is supplied by two different supply sources.

The price mix for June includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece interconnector /IGB/, according to the existing long-term contract with Azerbaijan. These quantities cover 70.3% of consumption for the month and are key to achieving favourable prices for the blue fuel.

The confirmed price of BGN 65.82/MWh is by 15.2% lower than the price in May, which was BGN 77.55/MWh. The main factor for this is the steady downward trend of stock indices on international gas markets and lower consumption.