Bulgaria: April wholesale gas price hike to be proposed by Bulgargaz

, SEE Energy News

Bulgarian state-owned gas supplier Bulgargaz is planning to propose higher wholesale natural gas price to be applied in April 2021. The price for May is planned to be further increased as well. The statement from the company said that the price for April should be around 16.5 euros/MWh, 12.8 % higher than the price valid in March – 14.6 euros/MWh. Also, Bulgargaz said that it is planning to propose a new price hike for May, increasing the price to around 17.6 euros/MWh. Previously, Bulgarian Commission for Energy and Water Regulation (KEVR) approved a 5.8 % decrease of wholesale natural gas price for March 2021, significantly higher than Bulgargaz’ proposal of less than 1 % cut. The price was decreased to around 14.6 euros/MWh, excluding VAT and excise duty. In early March, Bulgargaz and Gazprom Export have finalized an agreement on 40.3 % reduction of the price at which Russia supplies natural gas to Bulgaria, backdated to 5 August 2019. Bulgaria was the last of eight EU Member States of Eastern Europe to strike a deal on a price cut with Gazprom, in the wake of a settlement reached between the European Commission and the Russian monopolist on an anti-trust investigation. The agreement with Gazprom prompted the change in determining regulated wholesale gas prices, which is now set on monthly, rather than quarterly basis.