Bulgaria, Bulgargaz proposes a 25% lower gas price for February

, SEE Energy News

Bulgarian natural gas supplier Bulgargaz has proposed that the price of gas in February 2023 be reduced by almost 25% compared to January. The company submitted a request to the energy regulator for the approval of the price of natural gas for February, which is 135.38 BGN (69.2 EUR) per MWh.

This price is 24.5% lower than the established regulated price for January, according to the company’s announcement.

The final proposal for the approval of the gas price for the next month will be submitted to the regulator on February 1, after considering the movement of the components that participate in the formation of the price as of January 31.

Due to the drop in the price of natural gas on the Dutch TTF stock exchange, which is a benchmark for suppliers, Bulgargaz offered a lower price for January than originally planned. The price of gas in January increased for the second month in a row, to 179.33 BGN (91.6 EUR) per MWh.

At the last meeting with the energy regulator, Bulgargaz announced that the necessary quantities of natural gas for 2023 have been secured from diversified sources.

Until April last year, Bulgaria imported almost the entire amount of natural gas from Russia, and currently receives gas from Azerbaijan. It is delivered via the Greece-Bulgaria (IGB) interconnector, along with liquefied natural gas secured through spot auctions.

Earlier this month, Bulgargaz reached an agreement with Turkey’s Botas to secure access to the Turkish gas network and LNG import terminals until the end of 2035.

Source: investor.bg