Bulgaria, Wholesale price of natural gas will fall below 85 euros/MWh in November

, SEE Energy News

Bulgarian caretaker Minister of Energy Rossen Hristov said that he expects that the wholesale price of natural gas in Bulgaria will fall below 85 euros/MWh in November and that it will maintain the same level in December.

Minister Hristov also explained why the Ministry has rejected the proposal for the introduction of two electricity tariffs for residential consumers. According to him, the proposal was intended to play the role of a conservative buffer in case of a sharp jump in the prices of energy suppliers. However, the Ministry did not expect that the issue would be so politicized.

At the moment, there is no need for two tariffs. Bulgaria managed to stabilize its gas supplies, the implemented measures are working and together with the European ones, the country will be able to cope with the energy crisis. Even if the bad situation persists, heating will not become more expensive. The two tariff proposal was intended as a buffer for the price of gas and as it is not of an urgent nature, it was decided not be implemented, the Minister explained.

In early October, Bulgarian state-owned gas supplier Bulgargaz has proposed significantly lower wholesale natural gas price to be applied for November 2022. The price for November should be around 84.9 euros/MWh, which is 28.8 % lower compared to the price approved for October – 119.4 euros/MWh, which was a decrease of 34 % compared to September.