The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 3% increase in the wholesale price of natural gas for February 2025, raising the cost to approximately €43.1 per MWh, excluding VAT and excise duty. This follows a 7.97% increase in January’s wholesale price.
The pricing structure takes into account the full volume of Azeri natural gas delivered through the Bulgaria–Greece interconnector under a long-term agreement with Azerbaijan, which KEVR states is essential for maintaining competitive gas prices.
In addition to Azeri gas, the February price mix includes liquefied natural gas (LNG) sourced through contracts signed by Bulgargaz with traders following a tender that set delivery terms and minimum price requirements. The price mix also includes gas from the Chiren underground storage facility, though technical issues led to a redirection of planned supply to a terminal in Turkey under an agreement with BOTAS.
With lower gas demand expected in February, the share of Azeri gas, the most cost-effective source, has increased in importance. The TTF index for February shows an 8% increase compared to January. Despite these fluctuations, the regulated gas price has risen by 3% from the previous month.
KEVR confirmed that the available gas volumes will be sufficient to meet Bulgargaz’ obligations to end suppliers, district heating companies, and fulfill bilateral contracts with industrial clients for February.
