Natural Gas in Bulgaria will become Cheaper by about 8% in JulyEnergy | June 28, 2023, Wednesday // 14:06| views
Natural gas will become cheaper by about 8 percent in July and will be sold for about 60.50 leva per megawatt hour. This was announced by the executive director of Bulgargaz, Denitsa Zlateva, during the public discussion of prices.
The initial estimates indicated a decrease of 12 percent, but in the meantime, the price of gas on the international exchanges has increased, which also affects the prices in our country, Zlateva explained:
"There is a growth in the price-forming exchange index ETF one month ahead, which 'Bulgargaz' also uses when forming the regulated price. If we were to submit an updated application today, the difference would be only 4%. That is, with a 19% growth of the stock index, the difference is expressed in a 4% growth of the estimated price".
The increase in the exchanges is not reflected in its full extent in the prices in our country, since the supply from Azerbaijan has a greater weight in the mix, said the chairman of the regulator Ivan Ivanov:
"This once again shows the usefulness of the contract we have with Azerbaijan, which is literally like an anchor for the price, since they do not depend on the ETF. At the same time, more than 70% of the natural gas for the month of July will be supplied by them and it shows how they reduce this change, which if all our suppliers were connected to the ETF in a certain way, there would have been a more serious impact".
Bulgargaz will make its final proposal on July 1, when the Commission for Energy and Water Regulation will issue a decision on prices.
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