Bulgaria Raises Natural Gas Prices by 4.5% in August

Bulgaria's Energy and Water Regulatory Commission (EWRC) approved a 4.5% increase in natural gas prices for August, setting the rate at 39.43 euros per megawatt-hour. The new price applies to sales by Bulgargaz to end suppliers and companies licensed for heat energy production and transmission.

The increase is due to Bulgargaz's use of a new supply source, specifically a contract with Turkish company Botas. Azerbaijan's inability to deliver its agreed quantity under the long-term contract also contributed to the higher price.

EWRC Chairman Plamen Mladenovski stated that despite the 4.5% increase, the approved rate remains competitive for Bulgarian households and businesses. It is over 30% lower than European gas exchange quotes and will not significantly affect consumers under conditions of reduced summer consumption by district heating plants.