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

, SEE Energy News

Bulgarian state-owned gas supplier Bulgargaz has proposed significantly higher wholesale natural gas price to be applied for September 2022.

The statement from the company said that the price for September should be around 161.3 euros/MWh, which is 5.95 % higher compared to the price approved for August – 152.3 euros/MWh, which was an increase of 60 % compared to July.

A Bulgargaz forecast puts the projected price of natural gas in October at 137.6 euros/MWh. The forecast is based on expected levels of price components and on the condition that the Greece- Bulgaria natural gas interconnector goes into operation before 1 October. Prices of natural gas for October delivery stood at around 209 euros/ MWh on European spot markets this week.

Bulgargaz will submit its final request for the price applicable for September on 1 September. 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.