site.btaUPDATED Bulgargaz Plans to Lower Natgas Price by 31% in February

Public gas supplier Bulgargaz plans to lower the price of natural gas in February by close to 31% from January and is seeking regulatory approval for that. Its price proposal to the Energy and Water Regulatory Commission is for BGN 124.35/MWh exclusive of excise duty and VAT, the cost for access and transmission.

This is the price at which Bulgargaz will be selling gas to end-users and entities licensed for production and transmission of heat energy.

The January price was BGN 179.33/MWh.

The 31% price reduction compared to January is of key importance for heating companies and end users. The prices will remain unchanged until the end of the heating season.

The EWRC approved the natural gas price for February at BGN 124.34/MWh, excluding access, transmission, excise and VAT charges. Bulgargaz will sell at this price to the final suppliers and to the persons/entities with an issued licence for production and transmission of heat.

The price was approved after an analysis of the updated data and documents submitted on Wednesday by Bulgargaz, which indicate the prices of the individual suppliers and the size of their quantities in the total mix. The Regulator found that the total estimated quantity for the domestic market is provided by several different supply sources.

EWRC Chair Ivan Ivanov described the price reduction as a "very favourable factor". "In view of the confirmed lower price, the Commission will not take any action to increase the prices of thermal energy until the end of the heating season," Ivanov said at an open meeting held on January 27, 2023.