Bulgargaz proposes to raise the wholesale gas price in Bulgaria for May
Public gas supplier Bulgargaz said it is proposing a rise in the wholesale natural gas price applicable for May to 150.11 levs ($83.39/76.75 euro) per MWh.
The proposal takes into account the provisions of Bulgargaz' contracts with Russia's Gazprom and the company supplying gas from Azerbaijan, the company said in a statement dated April 8 published by Bulgaria's energy regulator EWRC.
If approved, the proposal will mark the third hike in the price of natural gas in Bulgaria in as many months. The proposed price is 5.3% higher than the approved price of 142.59 levs per MWh applicable for April.
Yet, the proposed increase comes well below the 157.73 levs per MWh which Bulgargaz predicted in mid-March as its likely price proposal for May.
The EWRC rules at the end of each month on the proposed change in the wholesale price, at which Bulgargaz sells natural gas to end-suppliers and customers directly connected to its transmission network.
The gas interconnector with Greece, on which Bulgaria relies to reduce its near-total dependence on Russian gas supplies, is due to be completed at the start of July and is seen as a means to increase the amount of natural gas delivered from Azerbaijan.