Bulgaria, Bulgargaz has proposed significantly lower wholesale natural gas price to be applied for November

, SEE Energy News

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

The company’s CEO Denitsa Zlateva said that the price for November should be around 66.5 euros/ MWh, which is 45 % lower compared to the price approved for October – 119.4 euros/MWh, which was a decrease of 34 % compared to September.

Slateva said that since October 11, when Bulgargaz submitted an initial price proposal for November, there has been a significant reduction in gas hub prices. Also, good discounts, ranging between 38 and 50%, were negotiated for LNG in November against the gas hub indices.

She also said that the company is in the process of finalizing the LNG tender for December and should be able to offer a price lower than 50 % of the exchange index.

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