"Bulgargaz" Proposes 11% Decrease in January Natural Gas Prices

Energy | December 29, 2023, Friday // 12:13|  views


"Bulgargaz" anticipates a notable reduction in natural gas prices by approximately 11% starting in January. The proposal suggests a cost slightly below BGN 78 per megawatt hour (MWh).

Chairman of the Energy and Water Regulatory Commission, Ivan Ivanov, hailed the news as positive for all natural gas users, emphasizing the consistent downward trend in prices. Lyudmila Vitanova from Bulgargaz highlighted the expected drop, marking it as an 11% decrease compared to December's rates.

Even amidst the winter months, when gas prices typically surge on energy exchanges, this year presents a unique scenario. Ivanov attributed this to relatively mild weather conditions and ample natural gas reserves across Europe. With the exclusion of supplies from Azerbaijan and the Chiren gas storage, the remaining sources are closely tied to the pricing dynamics on the Dutch exchange. Evidently, a decrease in prices there directly influences and lowers costs in our country.

The definitive decision regarding gas prices for the upcoming month is slated for January 1 of the coming year.

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Tags: Bulgargaz, natural gas, price


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