site.btaRegulator, Bulgargaz Discuss 2.17% Increase of Gas Price from April 1

The Energy and Water Regulatory Commission (EWRC) and Bulgargaz EAD had no objections to the company's proposal that the price of natural gas next month will be BGN 62.39 per megawatt-hour (MWh), excluding excise duty and VAT. This is 2.17% more than the current price for March.

At a public meeting on Thursday, the EWRC discussed the proposal made by the public supplier on March 11.

Bulgargaz said that since then the gas markets have been stable with no major deviations and therefore they have no new proposals.

EWRC chairman Ivan Ivanov pointed out that by a decision of the Council of Ministers on Wednesday, the state took over about BGN 800 million of Sofia district heating company's debt and a notification from the European Commission is expected for compensation for another BGN 220 million because of the extraordinary costs of the extremely high natural gas prices two years ago. This stabilizes the company and gives great security in its actions, Ivanov said.

The price of natural gas remains almost constant. There is a very normal price fluctuation, within 2%. Gradually, quantities of natural gas bought at a high price are being released. The Chiren storage facility is now just over 45% full and decreasing by 0.3-0.4% every day. The situation is similar in other gas storage facilities in Europe. This means stable gas prices, the regulator's chairman said.

The final decision will be taken by the regulator at a closed meeting on April 1.