Price of natural gas in Bulgaria drops by 14.3% in April

The Energy and Water Regulatory Commission (EWRC) has set a new, lower price for natural gas starting today, with a 14.3% decrease, the utilities regulator said.

As a result, the price for one megawatt-hour will now be 75.08 BGN, down from 87.58 BGN in March. The new price is nearly at the levels seen in December, when the price was 75.89 BGN per megawatt-hour.

"The price mix includes the entire contracted amount of Azerbaijani natural gas delivered via the Bulgaria-Greece interconnector (IGB), under the long-term agreement with Azerbaijan. These quantities cover 68.66% of the consumption for April and play a crucial role in achieving a favourable price for natural gas," the EWRC stated, explaining the decision. "Bulgargaz" has also signed a contract with a trader for the supply of liquefied natural gas (LNG) following a tender with requirements for a minimum delivery price and proposed payment method," the EWRC reasoned its decision.

The price also includes gas extracted from the "Chiren" underground storage facility. The secured amounts cover the obligations of the public supplier for April—toward end-suppliers and district heating companies—as well as quantities under bilateral contracts with industrial clients.

The regulator's press office also reminded that on March 28, the head of EWRC, Plamen Mladenovski, explained that "the significant reduction in the gas price by 14.3% compared to the previous month of March alleviates household budgets and provides real competitive advantages for Bulgarian businesses."

However, despite the reduced price, natural gas is still 28.9% more expensive compared to a year ago. In April 2024, one megawatt-hour of gas cost 58.84 BGN.