The price for October will decrease by 21.94 % to 17.1 euros/MWh, the November price will fall by 13.9 % to 19.75 euros/MWh, while the December price will be reduced by 10.35 % to 20.55 euros/MWh. Bulgarian Commission for Energy and Water Regulation (KEVR) has approved the changes in the wholesale price of natural gas for the last quarter of 2019, according to which state-owned gas supplier Bulgargaz will reimburse its clients.
In early March, Bulgargaz and Russian 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.
In line with the amendments to the Energy Act adopted in late April, Bulgargaz is obliged to recover funds under its contracts for the delivery of natural gas to the end suppliers and consumers directly connected to the transmission network.