Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 34 % decrease of wholesale natural gas price for September, slightly higher than 32 % drop proposed by the state-owned gas supplier Bulgargaz.
The wholesale price is increased to around 119.4 euros/MWh, excluding VAT and excise duty. Previously, KEVR approved 18.7 % increase of wholesale natural gas price for September.
KEVR said that for the first time the price mix includes the full amount of natural gas under the long-term contract with Azerbaijan and at the prices set in the contract, as Azeri gas reaches Bulgaria via the Greece-Bulgaria gas interconnector as of 1 October.
Gas delivered from Azerbaijan will cover about a third of the country’s consumption and is decisive in reducing the price for October. The price also includes quantities under the LNG supply contract, as well as pipeline gas purchased at the Balkan Gas Hub.
Any quantities of natural gas in excess of customer orders for October will be injected into the Chiren gas storage facility.