Bulgaria utilities regulator cuts gas prices by 11.3% for January 2024

Bulgaria’s utilities regulator has approved an 11.3 per cent cut in the regulated gas price in the country for the month of January, setting the new price at 77.6 leva a MWh, excluding transportation costs, excise and value-added tax.

The regulator said that it decided to lower the price after two months of increases due to the price trends on international gas markets.

The Energy and Water Regulatory Commission (EWRC) said that the long-term gas contract with Azerbaijan, which is linked to oil prices on international markets, rather than prices on gas hubs, played a key role in the price cut.

With Azeri gas accounting for 40.3 per cent of the monthly consumption, EWRC said that it remained a positive factor in “achieving beneficial prices.”

The rest of the gas for domestic consumption was secured by state-owned gas company Bulgargaz via a liquefied natural gas (LNG) delivery contract, as well as gas being pumped out of the country’s gas storage facility at Chiren, the regulator said.

(Photo: Marco Caliulo/sxc.hu)

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