BAKU, Azerbaijan, May 2. The gas prices in Bulgaria have been reduced by 21 percent for May as compared to April and the gas supplies from Azerbaijan via the Interconnector Greece-Bulgaria (IGB) are a key to achieving competitive pricing, said Bulgaria’s Energy and Water Regulatory Commission (EWRC), Trend reports via SeeNews.
The prices for May have been set at 77.55 levs ($43.60) per MWh, as compared to 98.16 levs per MWh in April.
The main factors putting downward pressure on gas prices are the lower price trend prices on the European spot markets and decreasing consumption.
The price mix for May includes the entire volume of Azerbaijani gas transported via IGB, which will cover 62.65 percent of Bulgaria’s consumption this month. The public gas supplier Bulgargaz has also added liquefied natural gas to the mix.
The Interconnector Greece-Bulgaria began commercial operation on October 1, 2022.
Since the beginning of the current heating season, the interconnector provides nearly 1/3 of the winter consumption of natural gas in Bulgaria. IGB is the first route for diversified supplies of natural gas to Bulgaria, guaranteeing increased security of supply and diversity of sources, contributing significantly to the competition in the natural gas market, which is a prerequisite for optimized prices for businesses and domestic consumers in the country.
Follow the author on Twitter: @Lyaman_Zeyn