Price of natural gas in December rises by 6.5%

The Energy and Water Regulatory Commission (EWRC) set a new price for natural gas from today, December 1. It is by 6.5% higher than the price in November and is BGN 87.50 per megawatt-hour.

"The Commission approved the price after an analysis of the actual data submitted today by public supplier Bulgargaz EAD, for forming the price of natural gas for December. They take into account quotations on international gas markets up to and including 30 November," the utilities regulator explained.

EWRC has established that the total estimated quantity for the domestic market is provided by four different sources. The price mix includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece interconnector.

"Bulgargaz” has concluded two LNG supply contracts for December with traders from the region following a tender procedure, with minimum delivery price requirements and a proposed payment method. In the price mix for the month, the public supplier has also included natural gas volumes from the Chiren gas storage facility.

A check on EWRC website shows that natural gas in December is nearly 40% cheaper than a year earlier. Back then a megawatt-hour cost 146.09 BGN. The natural-gas price was at its lowest level in August - 59.67 BGN per megawatt-hour.