Bulgaria, Bulgargaz has proposed significantly lower wholesale natural gas price for October

03.Oct 2022.

Bulgarian state-owned gas supplier Bulgargaz has proposed significantly lower wholesale natural gas price to be applied for October 2022.

The statement from the company said that the price for October should be around 126.8 euros/ MWh, which is 30 % lower compared to the price approved for September – 180.8 euros/MWh, which was an increase of 18.7 % compared to August.

Bulgargaz said that the Greece-Bulgaria gas interconnection, with an annual capacity of 3 billion cubic meters, is scheduled to be commissioned on 1 October, facilitating the delivery of larger quantities of natural gas under a contract with Azerbaijan. The price of gas for October delivery on the Dutch TTF gas futures platform was around 207 euros/MWh at the end of the week.

The Ministry of Energy said that the price proposed by Bulgargaz is also in line with requests made by employers’ associations for a cap on wholesale gas price of around 125 euros/MWh.

Bulgargaz will submit its final request for the price applicable for October on 1 October. Bulgarian Commission for Energy and Water Regulation (KEVR) has the final say on the proposed monthly changes in the wholesale price, at which state- owned Bulgargaz sells natural gas to end-suppliers and customers directly connected to its transmission network.