Bulgaria utilities regulator cuts gas prices by 19% for March 2024

Bulgaria’s utilities regulator has approved a 19 per cent cut in the regulated gas price in the country for the month of March, setting the new price at 57.59 leva a MWh, excluding transportation costs, excise and value-added tax.

This was the lowest monthly regulated gas price set by the regulator since August 2021, when the price was 57.6 leva a MWh.

The regulator said that it decided to lower the price for a third month running 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, once again played a key role in the price cut.

With Azeri gas accounting for 43.1 per cent of the forecast monthly consumption for March, 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)

Please support independent journalism by clicking on the button below. For as little as three euro a month or the equivalent in other currencies, you can support The Sofia Globe via patreon.com and get access to exclusive subscriber-only content:

Become a Patron!



The Sofia Globe staff

The Sofia Globe - the Sofia-based fully independent English-language news and features website, covering Bulgaria, the Balkans and the EU. Sign up to subscribe to sofiaglobe.com's daily bulletin through the form on our homepage. https://www.patreon.com/user?u=32709292