Bulgaria utilities regulator raises gas prices by 8.9% for June 2024

Bulgaria’s utilities regulator has approved an 8.9 per cent increase in the regulated gas price in the country for the month of June, setting the new price at 59.55 leva a MWh, excluding transportation costs, excise and value-added tax.

The regulator attributed the price hike to rising prices on the TTF gas hub in the Netherlands, which serves as the main European price benchmark. However, it noted that the price it set for June was still below the TTF reference price on May 31, which was 34.7 euro or 67.87 leva a MWh.

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 role in “achieving beneficial prices.”

Azeri gas was projected to account for about 81 per cent of Bulgaria’s domestic consumption in June.

The rest of the gas for domestic consumption was secured by state-owned gas company Bulgargaz via a liquefied natural gas (LNG) delivery contract, the regulator said.

(Photo: Marco Caliulo/sxc.hu)

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