Bulgaria has increased its regulated wholesale natural gas price by 5.5% for September. The regulator set the new level at €41.60/MWh, excluding VAT and excise duty. The adjustment follows a 4.5% rise in August.
The latest increase comes as international gas prices strengthened. Even after the September change, the Bulgarian regulated price remains almost €25/MWh below major European hub quotations. This leaves domestic consumers with protection from the latest moves in TTF and regional gas markets.
Discount linked to diversified supply
The discount is tied to Bulgaria’s diversified supply portfolio. Public supplier Bulgargaz continues to receive lower-priced pipeline gas under Bulgaria’s long-term supply agreement with Azerbaijan. That pipeline supply is supplemented by LNG purchased through competitive tenders.
This combination has limited the pass-through from sharply higher European wholesale prices to Bulgaria’s regulated level. The size of the differential may become more relevant for Bulgarian industrial consumers and gas-fired generators if TTF stays around €70/MWh. It also supports a relatively stronger fuel-cost position compared with neighbouring markets more directly exposed to hub-indexed imports.
