site.btaNatural Gas Price Expected to Increase by 8% in January

The price of natural gas in Bulgaria is expected to rise by about 8% in January, reaching approximately BGN 82 per MWh (exclusive of access, transmission, excise duty and VAT costs), Bulgargaz Executive Director Veselin Sinabov said at an open-door meeting of the Energy and Water Regulatory Commission (EWRC) on Monday. The price will apply to Bulgargaz sales to end-suppliers of natural gas and heating utilities.

Sinabov noted that the expected increase is lower than initially proposed by the state-owned supplier. The downward revision follows a two-week fall in the TTF index.

Sinabov does not expect any risks to gas supplies to Bulgaria. The country's Chiren underground gas storage facility is among the fullest in Europe. Bulgaria is also receiving gas via the Alexandroupolis LNG terminal in Greece. "There is no cause for concern," he stressed.

According to EWRC Chair Ivan Ivanov, the Chiren facility is 74.71% full, compared with an average of 73.53% in the EU.

Bulgargaz is expected by January 1 to make an updated proposal to the EWRC. The regulator will meet behind closed doors at 3 PM the same day to make a final decision on the price of natural gas in Bulgaria in January.