Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 47 % decrease of wholesale natural gas price for November, slightly higher than 45 % drop proposed by the state- owned gas supplier Bulgargaz few days earlier.
The wholesale price is increased to around 62.9 euros/MWh, excluding VAT and excise duty. Previously, KEVR approved 34 % decrease of wholesale natural gas price for October.
The statement from the regulator said that considerably lower price for November is the result of the competitive pricing conditions under the long-term agreement for gas supply from Azerbaijan.
KEVR Chairman Ivan Ivanov said that due to the natural gas price’s depreciation, the heating prices will not have to be increased as of 1 January 2023.