Bulgargaz applies for 6.5% hike in natgas price for Dec

The price increase proposal is lower than the originally forecasted price, Bulgargaz said in a press release. In October, the public gas supplier predicted a wholesale price of 92.19 levs pr MWh for December, in light of surging prices on the Dutch-based European gas hub TTF.

The wholesale price of natural gas in Bulgaria for November stood at 82.12 levs per MWh, which reflected a nearly 36% spike on the previous month.

TTF prices have been decreasing lately, which is expected to positively affect the upcoming pricing decision due by the Energy and Water Regulatory Commission (EWRC), the energy regulator said in a separate statement earlier this week.

Additional factors that will have a favourable effect on pricing decisions are the impending commissioning of the Bulgaria-Serbia gas link and of the Alexandroupolis floating liquefied natural gas (LNG) terminal in Greece, in which the Bulgarian state owns 20% through Bulgartransgaz, EWRC added.

(1 euro = 1.95583 levs)