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 statement from the company said that the price for November should be around 84.9 euros/ MWh, which is 28.8 % lower compared to the price approved for October – 119.4 euros/MWh, which was a decrease of 34 % compared to September .

The statement from Bulgargaz said that the proposed price for November is approximately twice lower than the prices of European gas hubs for delivery in November, which to date is around 160 euros/MWh. This significant difference is due to the extremely competitive prices obtained within the framework of the tender procedure for the supply of natural gas conducted by Bulgargaz in November, as well as due to the possibility of delivering the full Azeri gas quantities at a contract price through the Bulgaria-Greece gas interconnection.

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.