Bulgaria utilities regulator cuts gas prices by 21% for May 2023

Bulgaria’s utilities regulator has approved a 21 per cent decrease in the regulated gas price in the country for the month of May, setting the new price at 77.55 leva a MWh, excluding transportation costs, excise and value-added tax.

The Energy and Water Regulatory Commission (EWRC) decision to reduce the price for a fourth consecutive month puts the regulated gas price at its lowest since September 2021, when it was 69.4 leva a MWh.

EWRC said that the lower gas price was due mainly to the continued decline in prices on European gas hubs and falling consumption.

The regulator said that the gas delivered under the long-term deal with Azerbaijan covered 62.7 per cent of domestic demand and Bulgaria’s state-owned company Bulgargaz bought additional quantities of liquefied natural gas in two tenders with deliveries scheduled for May.

(Photo: Marco Caliulo/sxc.hu)

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