EWRC approved 2% increase in natural gas price in Bulgaria for April

Price of natural gas in Bulgaria increases by Bulgaria’s Energy and Water Regulatory Commission on April 1 approved the natural gas price for April at BGN 58.84/MWh, excluding access, transmission, excise duty and VAT. This is about 2% more than the price in March, when gas was traded at BGN 57.59/MWh, the energy regulator said.

The approved price of natural gas includes: the component of the price of natural gas at the entrty of the gas transmission networks, the component for the activity "public supply" under Art. 17, para. 7 of the NSRF and the cost compensation component under Article 11a(2) of the NSRF, covering the costs of Bulgargaz EAD for storing volumes in the Chiren gas storage facility, in fulfilment of obligations under the Contingency Plan.

The regulator approved the price following an analysis of the actual data submitted today by Bulgargaz EAD, which form the natural gas price for April. They take into account quotations on international gas markets up to and including 31 March 2024.

The regulator found that the total estimated quantity for the domestic market is provided by three different supply sources. The price mix for April includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece interconnector /IGB/ under the existing long-term contract with Azerbaijan. These volumes cover 51.07% of consumption for the month and contribute to achieving favourable prices for blue fuel.

For April, Bulgargaz has concluded a contract for the supply of LNG with a trader from the region, following a tender procedure, with minimum delivery price requirements and a proposed payment method. In the price mix, the public supplier has included natural gas volumes from extraction from Chiren storage facility.

The volumes secured cover the public supplier's commitments for April - to final suppliers and district heating companies, as well as the volumes under bilateral contracts with industrial customers.

The EWRC's decision to approve the natural gas price for April 2024 will be published on the regulator's website.

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