Bulgaria: Bulgargaz plans to propose wholesale gas price increase

, SEE Energy News

In March 2020 Bulgarian state-owned gas supplier 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.

Now Bulgargaz is planning to propose higher wholesale natural gas price to be applied in July 2021. The statement from the company said that the price for July should be around 23.9 euros/MWh, significantly higher than the price approved for May – 19.3 euros/MWh, which was a 13.5 % increase compared to April.