Bulgaria, Increase of the wholesale gas price for September is expected to exceed the initially projected 5.95 %

, SEE Energy News

CEO of state-owned natural gas supplier Bulgargaz Deniza Slateva said that the increase of the wholesale gas price for September is expected to exceed the initially projected 5.95 %.

Slateva explained that the larger increase was due to a nearly 17 % rise in Bulgargaz’ reference exchange index since the submission of the price proposal on 11 August. Therefore, new price projected for September should be around 175 euros/MWh. An updated proposal will be submitted to the Commission for Energy and Water Regulation (KEVR) on the morning of 1 September.

She said that arrangements have been made to meet the demand for gas in September. The mix for October includes the contracted monthly quantities of Azeri gas, one LNG cargo and a quantity that has yet to be auctioned off on the Balkan Gas Hub at a really competitive price compared to preliminary contracts with other alternative sources, judging from the open procedures on the Hub so far.

If Azeri gas starts arriving via the interconnector with Greece, Bulgaria will benefit from the prices agreed under the long-term contract with that supplier, and the prices are estimated to be below the ones announced for September, Slateva concluded.