The Bulgarian Commission for Energy and Water Regulation (KEVR) has sanctioned a 3.3% reduction in the wholesale natural gas price, effective January 2026. This decision aligns with the proposal put forward by the public supplier, Bulgargaz, in mid-December. The new wholesale price is set at approximately 31.2 euros per megawatt-hour (MWh), excluding VAT and excise duties. This follows a previous reduction of 4.3% that was approved for December.
The supply framework for January is significantly underpinned by Azerbaijani gas transported through the Bulgaria-Greece interconnector, which is governed by a long-term contract that addresses a large part of domestic demand, thereby maintaining competitive pricing in the market. Additionally, Bulgargaz has secured liquefied natural gas (LNG) shipments for January through contracts awarded to traders via tender processes, which ensures advantageous pricing and payment conditions.
Moreover, the supply strategy is bolstered by withdrawals from the Chiren underground gas storage facility, allowing Bulgargaz to fulfill its commitments to retail suppliers, district heating providers, and industrial clients under existing bilateral agreements. With winter volumes already secured and assuming regional demand remains steady, gas prices are projected to remain stable, promoting price stability for consumers in Bulgaria.
