The Bulgarian energy regulator has approved a 7% cut in the regulated gas price in the country for May, setting the new price at 54.7 levs (27 euros) MWh, excluding transportation costs, excise and value-added tax.
The regulator did not give a reason for the price reduction, which follows a small increase in April, but said that it took into account the price trends on 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 played a role in “achieving beneficial prices.”
Azeri gas was projected to account for 76.6% of Bulgaria’s domestic consumption in May.
The rest of the gas for domestic consumption was secured by state-owned gas transport operator Bulgargaz via a liquefied natural gas (LNG) delivery contract, the EWRC said.
