Bulgaria’s Commission for Energy and Water Regulation (KEVR) has approved a 5.84% increase in the wholesale natural gas price for July 2026, aligning with the proposal submitted by the state-owned supplier Bulgargaz in mid-June. Despite the increase, the regulated wholesale gas price is set at 37.7 euros/MWh (excluding VAT and excise duty), reflecting a relatively contained adjustment in the domestic pricing framework.
Previously, KEVR had approved a 1% decrease in the wholesale gas price for June, highlighting a recent period of mild downward correction before the July adjustment. The latest decision therefore represents a moderate rebound rather than a structural shift in the pricing trajectory.
According to KEVR, the approved Bulgarian price remains approximately 4 euros/MWh lower than July futures at the Title Transfer Facility (TTF), where prices have recently fluctuated between 41 and 42 euros/MWh. This indicates that regulated Bulgarian gas pricing continues to trade at a discount relative to broader European benchmark markets.
Gas prices on Bulgaria’s own Gas Hub Balkan have been broadly aligned with European trends, moving within a similar range of 39 to 42 euros/MWh. This convergence suggests that while Bulgaria maintains a regulated pricing mechanism, it remains closely connected to regional and European gas market dynamics.
State-owned supplier Bulgargaz expects the regulated gas price to remain below 40 euros/MWh throughout the rest of 2026, supported by the recent decline in international oil and gas prices. The company links this outlook to easing geopolitical tensions in the Middle East, which have contributed to softer global energy market conditions.
If current market conditions remain stable, Bulgaria’s regulated gas pricing is expected to continue providing a cost advantage for households and businesses compared with prevailing wholesale prices across European gas hubs. This reinforces the country’s position as a relatively stable and competitively priced gas market within the broader European energy landscape.
