Natural gas price in Bulgaria drops by nearly 31% in February

The Energy and Water Regulatory Commission cut the price of natural gas by nearly 31% in February. This happened at a closed meeting today, February 1. The decrease will not affect the prices of heating, hot water and electricity in the same direction.

Initially, the state-owned company "Bulgargaz" asked for a price cut of nearly 25%.

"I remind you that the price for January was 179 BGN, which means almost 54 BGN lower prices for Bulgarian businesses and Bulgarian consumers," said Ivan Ivanov, chairman of the Energy and Water Regulatory Commission.

The main reason for the cheaper prices is the filled natural gas storage in Europe, as well as falling prices on international exchanges.

"The fact that the weather is milder in winter leads to lower consumption of natural gas, respectively - when supply is greater than demand, the price decreases," Ivan Ivanov said.

The new price will not affect heating, hot water and electricity prices.

"The question is addressed to me why, after we reduce the price of natural gas by 55 BGN, the price of heating will not be reduced, because - the price is still above the one that served us as a basis for determining the price of heat," said the head of the utilities regulator.

State-owned public supplier “Bulgargaz” is expected to submit its March blue fuel price forecast on February 10.