Bulgaria utilities regulator cuts gas prices by 4.6% for October 2023

Bulgaria’s utilities regulator has approved a 4.6 per cent cut in the regulated gas price in the country for the month of October, setting the new price at 60.41 leva a MWh, excluding transportation costs, excise and value-added tax.

The Energy and Water Regulatory Commission (EWRC) said that it decided to cut prices, having increased them in September, despite rising demand on the TTF gas hub in the Netherlands, which serves as the main European price benchmark.

This was, in part, due to the very low price agreed with one of the three suppliers contracted by state-owned gas company Bulgargaz, the regulator said, without giving further details.

EWRC said that Bulgaria’s Chiren gas storage facility was 96.2 per cent full, up slightly from 93 per cent at the start of September. The regulator said that not having to purchase extra gas to pump into storage also contributed to its decision to reduce prices.

(Correction: The headline and first sentence originally incorrectly referred to a price increase instead of decrease. This has been now corrected.)

(Photo: Marco Caliulo/sxc.hu)

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