Bulgaria Approves 5.5% Gas Price Decrease for September
Bulgaria's utilities regulator has approved a gas price decrease of 5.5% for September, setting the new price at 41.6 euro per MWh, excluding transportation costs and taxes.
The Energy and Water Regulatory Commission (EWRC) attributed the lower price to competitive pricing of Azeri gas, which is tied to oil prices rather than spot prices on European gas hubs.
Bulgaria receives most of its natural gas from Azerbaijan via pipelines through Turkey and Greece, following Russia's Gazprom halting deliveries in 2022. The country supplements this supply with liquefied natural gas (LNG) from the Alexandroupolis terminal in northern Greece.
EWRC forecasts elevated gas prices throughout autumn due to low storage levels ahead of winter, currently estimated at around 62-63% full.