Bulgaria’s utilities regulator said on November 1 that it approved an increase to gas prices in the country by 1.4 per cent for the coming month, setting the new price at 93.19 leva a MWh, excluding transportation costs, excise and value-added tax.
The Energy and Water Regulatory Commission (EWRC) said that the new price was lower than in October after state gas company Bulgargaz reached an agreement with Gazprom Export.
Under that agreement, Bulgargaz would receive gas using unused volume quotas from previous months, for which the company would pay “a much lower price than the market prices on European hubs, leading to a drastic decrease of the price mix for the Bulgarian market,” the regulator said in a statement.
The regulator-set gas price in Bulgaria has risen sharply over the past year, having more than quadrupled from 22.46 leva a MWh in September 2020.
(Photo: Marco Caliulo/sxc.hu)
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