The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 10.48% increase in the wholesale price of natural gas for December 2024, slightly lower than the 10.61% increase proposed by the public gas supplier, Bulgargaz. The new wholesale price will be approximately 38.8 euros per MWh, excluding VAT and excise duties. This follows an 8% increase in November’s wholesale natural gas price, also approved by KEVR.
Bulgargaz explained that the revised price is higher than initially proposed due to the rising TTF index and increased supply requirements. However, the company emphasized that the price remains competitive, as it is roughly 5 euros lower than the TTF pricing index. For December, Bulgargaz will source natural gas from Azerbaijan under a long-term contract, as well as from liquefied natural gas purchased at auctions and supplies from the underground gas storage facility at Chiren.
