Bulgaria utilities regulator raises gas prices by 1.9% for September 2024
Bulgaria’s utilities regulator has approved a 1.9 per cent increase in the regulated gas price in the country for the month of September, setting the new price at 61.91 leva a MWh, excluding transportation costs, excise and value-added tax.
The regulator said that it initially envisioned a small price cut, but a number of large consumers have placed orders for additional quantities of gas with state-owned gas company Bulgargaz, which led to an increase in the final price.
The higher demand for gas is due to the fact that the price in Bulgaria is significantly lower than on the TTF gas hub in the Netherlands, which serves as the main European price benchmark, even after the small price hike for September, the Energy and Water Regulatory Commission (EWRC) said.
EWRC said that the domestic consumption for September will be covered by gas received under the long-term gas contract with Azerbaijan and quantities drawn out from the country’s Chiren gas storage.
(Photo: Marco Caliulo/sxc.hu)
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