Bulgaria, Bulgargaz has proposed higher wholesale natural gas price to be applied for December

, SEE Energy News

Bulgarian state-owned gas supplier Bulgargaz has proposed higher wholesale natural gas price to be applied for December 2022, but the increase is the same as in its initial proposal.

The statement from the company said that the price for December should be around 74.5 euros/ MWh, which is 18.6 % higher compared to the price approved for November – 62.9 euros/MWh, which was a decrease of 47 % compared to October.

KEVR Chairman Ivan Ivanov said that there is a slight decrease in price on European exchanges, which he expects to confirm on 1 December, adding that natural gas could have been cheaper, but it is not the case, due the expensive gas stored in Chiren facility, which was filled in August and September, when the price of gas was the highest.

Bulgargaz will submit its final request for the price applicable for December on 1 December. Bulgarian Commission for Energy and Water Regulation (KEVR) has the final say on the proposed monthly changes in the wholesale price, at which state-owned Bulgargaz sells natural gas to end-suppliers and customers directly connected to its transmission network.