Bulgaria Hikes Gas Price Amid International Market Tensions

Bulgaria has raised its natural gas price for September by 5.5% compared to August, setting it at 41.60 euros per megawatt-hour.

The decision was made by the Energy and Water Regulatory Commission, which took into account various components of the gas price, including quantities supplied under Bulgaria's long-term contract with Azerbaijan and liquefied natural gas secured through contracts with traders.

The regulator emphasized that while this increase may be unwelcome news for Bulgarian consumers, the country's natural gas price remains significantly below current futures prices on international gas exchanges.

Bulgaria's September price is approximately 25 euros per megawatt-hour less than the international market price, which currently trades at around 66.98 to 68.92 euros per megawatt-hour.