Bulgaria’s public gas supplier, Bulgargaz, is expected to raise natural gas prices by approximately 8% in January 2025, bringing the price to around 41.8 euros per MWh, excluding access, transmission, excise duty, and VAT costs. This price increase will apply to Bulgargaz sales to end-suppliers and heating utilities.
Veselin Sinabov, CEO of Bulgargaz, explained that the increase is lower than initially proposed. The revision downward is attributed to a two-week decline in the TTF index. Sinabov assured that there are no expected risks to Bulgaria’s gas supply. The country’s Chiren underground gas storage facility remains one of the fullest in Europe, and Bulgaria continues to receive gas via the Greek LNG terminal in Alexandroupoli.
Ivan Ivanov, Chairman of the Commission for Energy and Water Regulation (KEVR), stated that the Chiren facility is currently 74.71% full, compared to an EU average of 73.53%. The final natural gas price for January will be determined by KEVR after an updated proposal from Bulgargaz, following a public discussion and approval on the first day of January.
