Bulgaria Locks in Cheaper Natural Gas for April as Azerbaijan Deal Keeps Prices Below EU Average

The Energy and Water Regulatory Commission (EWRC) in Bulgaria has set the price of natural gas for April 2026 at 34.27 euros per megawatt-hour, excluding access, transmission, excise duties and VAT. At this level, Bulgargaz EAD will supply gas both to end suppliers and to licensed companies involved in heat production and distribution, according to the regulator.

Despite a month-on-month increase of around 5% compared with March, the approved tariff remains among the most competitive in Europe. Authorities note that it is roughly 20 euros per megawatt-hour below prevailing international benchmarks. On the Dutch TTF market, gas has recently been trading at about 54 euros per megawatt-hour after a sharp upward movement. On a yearly basis, the April price is also lower, down about 10.7% compared with April 2025, when it stood at 38.39 euros per megawatt-hour.

Officials underline the importance of Bulgaria’s long-term supply agreement with Azerbaijan as a key factor behind the relatively low domestic pricing. The contract, linked to oil indices rather than volatile gas exchanges, is considered a stabilizing element in the pricing structure. According to KEWR leadership, this arrangement has helped shield Bulgarian consumers from the stronger price pressures seen on European markets, at least in the short term.

The current pricing mix for April includes the full contracted volumes of Azerbaijani gas delivered via the Greece-Bulgaria Interconnector (IGB), which covers a substantial share of monthly consumption. Additional supply comes from liquefied natural gas secured through earlier auctions with traders, as well as production from the Chiren underground gas storage facility. These combined sources contribute to maintaining a more balanced overall cost.

The approved tariff also reflects several regulated components, including the cost of gas entering transmission networks, the public supply fee under the national legal framework, and compensation costs linked to storage obligations at Chiren. These expenses are tied to Bulgargaz EAD’s responsibilities under the Emergency Action Plan and storage requirements.

EWRC Chair Plamen Mladenovski stated at an open meeting on March 24, 2026, that no sharp price shock is expected for Bulgarian consumers in the immediate months ahead, despite volatility on international markets. However, he also noted that a contract adjustment with Azerbaijan is scheduled for July, which will incorporate developments in global oil prices.

The regulator’s decision will be formally published on its official website.