site.btaLower Natgas Price for October Approved

The Energy and Water Regulatory Commission (EWRC) set the natural gas price for October at BGN 60.41 per megawatt-hour (MWh), excluding access, transmission, excise and VAT prices, the regulator said on Sunday.

The EWRC-approved natural gas price for September was BGN 63.35 per MWh, excluding prices for access, transmission, excise duty and VAT. This means that the price for September is about 4.6% lower.

At an open meeting the representatives of Bulgargas EAD informed that this decrease was achieved despite the increase of the stock index TTF by almost 8% during the month.

The energy regulator confirmed the price after an analysis of the updated data submitted on Sunday by Bulgargaz, which forms the natural gas price for September. It also takes into account quotations on international gas markets and the exchange rate up to and including September 30, the EWRC said.

The regulator has established that the total estimated quantity for the domestic market is provided by three different supply sources. The price mix for October includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece interconnector (IGB), under the existing long-term contract with Azerbaijan. These volumes cover 52.45% of consumption for the month and are key to achieving favourable gas prices.

Bulgargaz has signed two LNG supply contracts for October with traders from the region, following a tender procedure, with minimum delivery price requirements and a proposed payment method, the EWRC said.