The Bulgarian Commission for Energy and Water Regulation (KEVR) has sanctioned a 3.69% increase in the wholesale natural gas price for February 2026, setting it at approximately 32.3 euros/MWh, exclusive of VAT and excise duties. This decision follows a prior decrease of 3.3% that was approved for January, indicating a shift in the pricing trajectory after a period of adjustments.
Despite this upward adjustment at the wholesale level, the impact on most household consumers is moderated, with increases capped around 2%. KEVR’s intervention was prompted by concerns regarding certain gas volumes proposed by Bulgargaz, which threatened to obscure the distinction between regulated supply and market trading dynamics. For the first time, KEVR opted to reduce the quantities suggested by the public supplier, eliminating last-minute additions from bilateral contracts that could have adversely affected customers dependent on regulated pricing.
The regulator reaffirmed its commitment to its legal mandate, emphasizing the need to protect households and other regulated consumers. This strategic focus aims to ensure that price formation remains as affordable as possible, particularly for vulnerable users in the energy market.
In conjunction with this price revision, KEVR has announced intentions to revise secondary rules associated with gas price regulation. These amendments are designed to enhance alignment with the objectives outlined in the Energy Act, thereby mitigating similar issues in future regulatory practices.
Notably, despite the recent rise in prices, KEVR has highlighted that the approved gas price continues to remain significantly below historical levels. The February 2026 rate is nearly 25% lower than that of February 2025, and approximately 12% below February 2024’s levels, reflecting a broader context of price stability amid fluctuating market conditions.
