Bulgaria’s utilities regulator approved an increase in gas prices

Bulgaria’s utilities regulator approved an increase in gas prices

The Energy and Water Regulatory Commission (EWRC), which made its first regulatory decision since a new line-up took office last month, said that the main reasons for the increase were the record high gas prices on European gas hubs and the limits on using gas from Bulgaria’s Chiren gas storage facility.

The Chiren storage facility was currently pumping gas in, rather than out, in order to “accumulate reserves in case of a crisis in deliveries of natural gas,” the regulator said.

EWRC’s statement made no other mention of possible disruptions in natural gas deliveries or the Russian invasion of Ukraine on February 24, which sent European natural gas prices soaring.

Prior to the outbreak of the war, Bulgargaz asked the regulator to approve a 1.8 per cent cut in gas prices.

Natural gas prices in Bulgaria have risen steadily since the start of last year, when the regulator set the gas price at 26.93 leva a MWh in January 2021, reaching a peak of 133.41 leva a MWh in January 2022, before applying a 17.6 per cent cut in February.

Previous Next
Close
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.