Bulgaria utilities regulator cuts gas prices by 1.4% for August 2023
Bulgaria’s utilities regulator has approved a 1.4 per cent decrease in the regulated gas price in the country for the month of August, setting the new price at 59.67 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 seventh consecutive month puts the regulated gas price at its lowest in two years, slightly higher than the 57.6 leva a MWh price in August 2021.
EWRC said that it initially envisioned a three-per-cent increase in August, but the recent drop in prices on the TTF gas hub in the Netherlands, which serves as the main European price benchmark, allowed it to continue reducing the regulated gas price.
The regulator said that gas deliveries under the long-term contract with Azerbaijan, which is linked to oil prices rather than price fluctuations on gas hubs, covered three quarters of projected domestic consumption and the rest would come from a liquefied natural gas cargo purchased by state-owned gas company Bulgargaz and slated to be delivered in August.
(Photo: Marco Caliulo/sxc.hu)
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