Bulgaria: 21% gas price cut for May

, SEE Energy News

Commission for Energy and Water Regulation has approved a 21% decrease in wholesale <strong>natural gas price</strong> for May, which is higher than the 18% proposal by state-owned supplier Bulgargaz.

The wholesale price is decreased to around 39.6 euros/MWh, excluding VAT and excise duty. Previously, KEVR approved an 8% decrease in wholesale natural gas prices for April.

The lower price reflects the steady downward trend of the natural gas indices on the <strong>international markets</strong> and a drop in consumption.

The price mix for May includes the entire contracted quantity of Azeri natural gas supplied via the <strong>Greece-Bulgaria interconnector</strong> at prices set in the long-term contract. These quantities meet 62.65% of domestic requirements for the month.

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