The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 5% increase in the wholesale natural gas price for May 2026, in line with the proposal submitted by public supplier Bulgargaz in mid-April. The decision reflects regulatory alignment with market expectations and ongoing adjustments in the energy sector.
The wholesale price has risen to 35.98 euros/MWh, excluding VAT and excise duty, following a previous 5.1% increase approved for April. Despite this upward trend, the pricing trajectory indicates moderate and controlled growth compared to broader European movements.
Even with the increase, the projected price remains roughly 10 euros/MWh below levels observed at the Title Transfer Facility (TTF), one of Europe’s key gas benchmarks. This gap helps maintain relatively favorable domestic tariffs, shielding consumers from sharper price volatility seen in other markets.
The regulator emphasized several factors that could influence gas pricing in the coming months, including geopolitical uncertainties affecting major supply routes, the pace of storage replenishment, and growing competition between Europe and Asia for LNG cargoes. These dynamics point to a complex and uncertain pricing environment ahead.
For May, Bulgaria’s gas demand will be met through a diversified supply mix. Deliveries from Azerbaijan via the Greece-Bulgaria interconnector will play a central role, supplemented by LNG imports secured through traders and withdrawals from the Chiren gas storage facility. This approach ensures supply stability and flexibility.
Authorities also noted that the long-term agreement with Azerbaijan is expected to cover nearly all of Bulgaria’s consumption during the summer months. This arrangement significantly reduces reliance on volatile spot markets, providing greater predictability and energy security for the country.
