site.btaRegulator Approves 19% Lower Natgas Price for March M/M

The Energy and Water Regulatory Commission (EWRC) approved the price of natural gas for March at BGN 57.59 per MWh, exclusive of access, transmission, excise duty and VAT costs. This is the price at which state-owned distributor Bulgargaz will sell natural gas to end-suppliers of gas and to heating companies, the regulator said on Friday.

The price for March is 18.98% lower than the approved price of natural gas in February, which was BGN 71.08 MWh.

The Commission approved the price after a data analysis submitted on Friday by Bulgargaz. They take into account quotations on international gas markets up to and including February 29, 2024.

The regulator found that the total estimated quantity for the domestic market was provided by three different sources of supply. The price mix for March includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece interconnector, according to the long-term contract in force with Azerbaijan. These volumes cover 43.08% of the consumption for the month and are decisive for achieving favourable prices.

Bulgargaz has concluded a contract for the supply of liquefied natural gas for March with a trader from the region, following a tender procedure, with minimum delivery price requirements and a proposed payment method. The public supplier has also included natural gas volumes from production from the Chiren underground gas storage facility in the price mix.

The secured quantities cover the public supplier's commitments for March - to the final suppliers and the district heating companies, and the quantities under bilateral contracts with industrial customers, the EWRC reported.