Bulgarian utilities regulator has approved a 2% raise in the regulated gas price for April, setting the new price at 58.84 lev (30.1 euros) per MWh, excluding transportation costs, excise and value-added tax.
The regulator did not give a reason for the increase, which follows three straight months of price cuts, but said that it took into account the price trends in international gas markets.
The Energy and Water Regulatory Commission (EWRC) said that the long-term gas contract with Azerbaijan, which is linked to oil prices on international markets, rather than prices on gas hubs, played a role in “achieving beneficial prices.”
Azeri gas was projected to account for 51% of Bulgaria’s domestic consumption in April.
The rest of the gas for domestic consumption was secured by state-owned gas company Bulgargaz via a liquefied natural gas delivery contract, as well as gas being pumped out of the country’s gas storage facility at Chiren, the regulator said.
