Bulgaria’s state-owned gas supplier, Bulgargaz, has proposed a higher wholesale natural gas price for December 2024. The company suggests that the price for December should be set at 37.8 euros/MWh, which represents a 7.61% increase compared to the 35.1 euros/MWh approved for November 2024. November’s price had already risen by 8% compared to October.
Bulgargaz explained that the December price would be based on a mix of natural gas sourced from Azerbaijan under a long-term contract, liquefied natural gas (LNG) purchased at auctions, and supplies from the underground gas storage facility at Chiren.
The final price for December will be determined by the Energy and Water Regulatory Commission (KEVR), which is expected to approve the new rate on December 1, following a public discussion at the end of November. The final price will also reflect adjustments based on the current market conditions.
This proposed increase comes amid rising energy costs across Europe, which have put additional pressure on both consumers and energy suppliers. It remains to be seen how the proposed price change will impact Bulgaria’s energy market, especially in the context of broader economic and energy price trends across the region.
