Europe: Brent oil and...

Brent oil futures for the front month in the ICE market reached a...

Europe: Electricity prices surge...

In the first week of February, average electricity prices increased across most major...

Europe: Electricity demand rises...

In the first week of February, electricity demand increased across most major European...

Europe: Solar energy production...

During the week of February 3, solar photovoltaic energy production saw an increase...
Supported byClarion Energy banner
HomeSEE Energy NewsBulgaria, Bulgargaz is...

Bulgaria, Bulgargaz is has proposed higher wholesale natural gas price to be applied in December

Bulgarian state-owned gas supplier Bulgargaz is has proposed higher wholesale natural gas price to be applied in December 2021.

The statement from the company said that the price for December should be around 49.2 euros/ MWh, which is 3.2 % higher compared to the price approved for November – 47.6 euros/MWh, which was a decrease of 1.4 % compared to October.

Bulgargaz also said that it plans to propose a decrease in the wholesale price of gas to 47.6 euros/MWh in January 2022.

KEVR’s decision to decrease the price in November took into account an agreement reached between gas supplier Bulgargaz and Russian Gazprom Export for deliveries of gas volumes during November that were not received in previous periods and will be paid for by Bulgargaz at a significantly lower price compared to current market prices on European gas hubs, which leads to a significant reduction in the price mix for the Bulgarian market.

In March 2020, Bulgargaz and Gazprom Export have finalized an agreement on 40.3 % reduction of the price at which Russia supplies natural gas to Bulgaria, backdated to 5 August 2019. Bulgaria was the last of eight EU Member States of Eastern Europe to strike a deal on a price cut with Gazprom, in the wake of a settlement reached between the European Commission and the Russian monopolist on an anti-trust investigation.

The agreement with Gazprom prompted the change in determining regulated wholesale gas prices, which is now set on monthly, rather than quarterly basis.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Brent oil and gas prices fluctuate in early February amid sanctions and energy demand concerns

Brent oil futures for the front month in the ICE market reached a weekly high of $76.20 per barrel on Tuesday, February 4. Following this, settlement prices remained below $75 per barrel for the rest of the week. On...

Europe: Electricity prices surge in February

In the first week of February, average electricity prices increased across most major European markets. The N2EX market of the United Kingdom saw the smallest rise at 2.0%, while the MIBEL market for Spain and Portugal experienced the largest...

Europe: Electricity demand rises across most markets in early February

In the first week of February, electricity demand increased across most major European electricity markets compared to the previous week. The French market saw the biggest rise, with demand up by 6.5%, while Spain experienced the smallest increase, just...
Supported bySEE Mining News
error: Content is protected !!