Bulgarian energy regulator approves 13% drop in natural gas price in June

SOFIA (Bulgaria), June 10 (SeeNews) – Bulgaria’s utilities regulator announced on Friday that it has approved a 13% monthly cut in the wholesale natural gas price for June, to 141.36 levs ($76.55/72 27 euros) per MWh, bringing the price lower than that of the Russian Gazprom which interrupted deliveries to the country at the end of April.

In its decision, the regulator considered the amounts and supplier prices presented in last month’s request for quotations by public supplier Bulgargaz and coming from two sources – a supply contract with Azerbaijan and an agreement for delivery. natural gas (LNG), the Energy and Water Regulatory Commission (EWRC) said in a statement.

Earlier this week, state television BNT reported that the first of two tankers delivering LNG from the United States to Bulgaria had arrived.

At the beginning of June, Bulgargaz asked the EWRC to approve a price of 141.28 levs per MWh for natural gas for the current month.

The regulator had previously authorized a jump in the price of natural gas for May to 162.17 levs per MWh.

“With the price reached in June, Bulgargaz proves that by attracting new suppliers, Bulgaria can obtain lower prices than Gazprom, which is good for both residential consumers and for the competitiveness of the Bulgarian economy. Our common goal is for this to be the direction in the months and years to come so that our country can overcome its historical energy dependence on a single supplier – Russia,” noted the president of the EWRC, Stanislav Todorov.

The energy regulator added that all necessary quantities of natural gas have been guaranteed for households, industrial customers and central heating companies. Looking ahead, EWRC highlighted the challenge of securing long-term supply contracts and recommended that future agreements be signed with at least three separate alternative suppliers who use different price formation methods.

Bulgarian energy regulations require Bulgargaz to set the gas price monthly. The EWRC has the final say on proposed changes to the wholesale price, at which the utility sells natural gas to end-suppliers and customers directly connected to its transmission network.

(1 euro = 1.95583 levs)

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