The price of natural gas in November will be higher than this month's but still significantly lower than the price on European gas markets, Energy and Water Regulatory Commission (EWRC) head Ivan Ivanov said during Thursday's sitting of the energy regulator. On the agenda was Bulgargaz' proposal for an increase of the natural gas price by at least 11.36% in November.
Ivanov noted that in less than a month, the price of the TIFF index [a leading indicator for gas prices in Europe] increased by some 45% on a daily basis. However, the gas supplies from Azerbaijan reduce the total price. These quantities are set by contract and will play an ever smaller role in determining the gas price, he specified.
Veselin Sibanov, head of the Natural Gas Directorate at Bulgargaz, said that despite the TTF index price increasing, the regulated price in Bulgaria will be lower than that of the European gas hubs. The price increase compared to October is also related to the smaller quantities of liquefied natural gas at the terminal in Türkiye; the necessary quantities will have to be obtained from elsewhere. Sibanov did not specify by how much the gas will appreciate in November.
After the EWRC's meeting, Bulgargaz told BTA that the appreciation will be by 15% lower than the TTF index's values.
The energy regulator will determine the final gas price for November at a closed-door sitting on November 1.
/MR/
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