Bulgargaz, the Bulgarian state-owned gas supplier, has submitted a proposal to raise its regulated wholesale natural gas price by 34%. The filing links the adjustment to higher supply costs and Bulgaria’s exposure to regional energy market volatility. The company’s proposal would apply to the next tariff period under the regulated framework.
The proposed October 2026 wholesale tariff is set at approximately €59.1/MWh. This compares with an approved September price of around €44.1/MWh. Bulgargaz also noted that September’s tariff had already increased by 5.5% from August, indicating rising procurement costs ahead of the latest request.
Tariff levels and prior month increases
The proposed October 2026 level would represent a step up from the September figure used under the approved schedule. September’s increase of 5.5% versus August was already part of a sequence of higher regulated pricing. Bulgargaz’s submission frames the new adjustment as part of continued cost pressure affecting procurement.
The company stated that its proposed regulated pricing remains below prevailing European wholesale market quotations. The comparison depends on the relevant delivery period and the specific market benchmark used for reference. The proposal therefore distinguishes between hub-based quotations and the regulated procurement price paid under Bulgaria’s public supply arrangements.
Diversified supply plan for winter procurement
Bulgaria is preparing a diversified supply portfolio that combines pipeline imports, liquefied natural gas and domestic storage withdrawals. For November deliveries, Bulgargaz plans to use gas under its long-term Azerbaijani agreement. Additional volumes are expected to arrive through routes involving Greece and Turkey.
LNG imported via the Alexandroupoli terminal in northeastern Greece is also expected to contribute to supply. At the same time, withdrawals from Bulgaria’s Chiren underground storage facility remain part of the procurement strategy.
What is included in the regulated wholesale price
Bulgargaz said the proposed price includes the cost of gas arriving at Bulgaria’s transmission system entry points. It also includes a regulated public supply component and expenses related to maintaining emergency gas reserves at Chiren. These elements are intended to reflect differences between European hub quotations and the final regulated procurement price.
The filing also highlights potential cost impacts for end users including industrial consumers, gas-fired electricity producers and district heating operators. It notes that a significant rise in wholesale gas prices can affect operating costs even if broader European market conditions appear relatively stable during the period in question.
Commercial impact depends on approval and tariff period
Bulgargaz indicated that contractual supply terms, storage obligations and LNG logistics can lead to substantial differences between national regulated tariffs and exchange-traded gas prices. The final commercial effect will depend on regulatory approval and on which tariff period the increase applies. Bulgaria’s immediate challenge is maintaining sufficient winter supply flexibility without allowing procurement costs to translate into a sustained increase in domestic energy prices.
