Bulgarian energy regulator approves cut in March wholesale gas price

Bulgarian energy regulator approves cut in March wholesale gas price

Bulgaria's energy regulator said on Monday that it approved a decrease of the wholesale price of natural gas to 28.64 levs ($17.66/14.64 euro) per MWh in March from 30.39 levs per MWh in February.

In its decision, the Energy and Water Regulatory Commission (EWRC) took into account the information about the market indices of the European gas hubs and the average euro/dollar exchange rate of the European Central Bank for the month of February, the regulatory body said in a statement

The price adopted by the regulator is in line with the proposal submitted for approval by public gas supplier Bulgargaz.

Under changes to Bulgarian energy regulations introduced last year, Bulgargaz is required to set the wholesale gas price monthly instead of quarterly.

In March 2020, Bulgargaz negotiated a 40.3% cut in the price of Russian natural gas imports based on an agreement between the European Commission and Russia's Gazprom. Bulgargaz and Gazprom changed the pricing formula for Russian gas imports, setting as its main component the price on the regional markets instead of the price of petroleum derivatives.

Earlier this year, Bulgaria also started receiving natural gas from Azerbaijan via the Trans Adriatic Pipeline (TAP).

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.