The Bulgarian Commission for Energy and Water Regulation (KEVR) has sanctioned a 0.9% increase in wholesale natural gas prices for March 2026, marking a notable deviation from the 1.7% increase initially proposed by the state-owned supplier, Bulgargaz. The new wholesale price is set at approximately 32.6 euros/MWh, excluding VAT and excise duties. This adjustment follows a previous decision by KEVR to implement a 3.7% decrease in February prices. In comparison to March 2025, when prices peaked at 44.8 euros/MWh, the upcoming price reflects a significant reduction of nearly 27%.
The pricing strategy for March is heavily influenced by the comprehensive volume of Azerbaijani natural gas, which will be delivered through the Greece-Bulgaria interconnector (IGB). This long-term agreement with Azerbaijan ensures that a substantial portion of Bulgaria’s monthly consumption is met, thereby stabilizing market prices.
Additionally, the pricing mix incorporates liquefied natural gas (LNG) procured through contracts with various traders, along with withdrawals from the Chiren underground gas storage facility. This diversified supply chain is expected to maintain consistent availability and reliability of gas throughout March, contributing to overall market stability.
