Bulgaria's Gas Storage Levels Fall Below EU Average Ahead of Winter
Bulgaria's natural gas storage facilities are significantly below the European Union average heading into winter.
Data from Gas Infrastructure Europe shows that as of August 24, Bulgaria's storage level was 57.29% full, compared to an EU average of 62.99%. Neighboring Romania and Croatia have larger reserves, with their storage facilities filled to 68.51% and 68.59%, respectively.
The low reserves are a concern as Europe approaches winter with unusually low gas inventories for this time of year. Wholesale prices have reached their highest level in more than three years, exceeding €66 per megawatt-hour. The European Commission and market analysts are monitoring existing inventories and projected winter demand closely.
Rising prices are also a concern, particularly for Bulgaria which is connected to the wider regional energy market. If high prices persist, they will gradually affect supply contracts, businesses, electricity generation, and ultimately household bills.