Bulgaria’s natural gas price for September has been set at 41.60 euros per megawatt-hour, excluding access, transmission, excise duty and VAT, after the Energy and Water Regulatory Commission approved a 5.5% increase from the August price.
At the approved rate, Bulgargaz will sell natural gas to end suppliers and companies licensed to produce and transmit heat energy.
Despite the monthly increase, the regulator said Bulgaria’s price remains more than 30% below current futures prices on international gas exchanges. Bulgarian consumers will pay nearly 25 euros per megawatt-hour less than the international market price, according to the commission. September contracts on European gas exchanges are currently trading at around 66.98 to 68.92 euros per megawatt-hour.
The regulator's decision comes as gas prices are expected to remain elevated throughout the autumn. Concerns over the pace of filling European gas storage facilities and potential risks to liquefied natural gas supplies, amid geopolitical tensions in the Middle East, are adding pressure to the market.
European gas storage facilities are currently estimated to be around 62% to 63% full, a level described as the lowest for this point of the year in several years.
