BAKU, Azerbaijan, October 3. Gas prices in Bulgaria have once again experienced a decline, and this can be attributed to the continued supplies from Azerbaijan, Trend reports.
The Bulgarian Energy and Water Regulatory Commission (EWC) has given its approval for the natural gas price for October, setting it at 60.41 levs (approximately 30 euros) per MWh, excluding access costs, transmission fees, excise taxes, and VAT. This figure represents a 4.6 percent decrease compared to the September prices, which stood at 63.35 leva per MWh.
During an open meeting, Bulgargaz representatives announced the decision to lower prices, despite the TTF gas price index for the month showing an increase of nearly 8 percent. The regulator confirmed this price adjustment after reviewing updated data presented by Bulgargaz on Sunday.
The regulator's analysis revealed that the total estimated volume for the domestic market is being supplied by three distinct sources. The pricing mix for October encompasses the entire contract volume of Azerbaijani natural gas supplied through the Bulgaria-Greece interconnector (IGB). These volumes account for 52 percent of the monthly consumption and play a pivotal role in achieving favorable gas prices.
Bulgargaz has also entered into two LNG supply contracts for October with regional traders.
Commercial deliveries via the Greece-Bulgaria interconnector commenced on October 1, 2022. The IGB represents the first channel for diversified natural gas supplies to Bulgaria, ensuring increased supply security and significantly enhancing competition in the natural gas market. This competition is a fundamental factor in optimizing prices for both businesses and households in the country.
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