May 2 (SeeNews) - Bulgaria's utilities regulator said it endorsed a wholesale natural gas price of 77.55 levs ($43.60/39.65 euro) per MWh applicable for May, or a decline of 21% compared to the April level.
The main factors for the reduction are the steady trend for lower gas prices on the European spot markets as well as a drop in consumption, the Energy and Water Regulatory Commission (EWRC) said in a statement on Monday.
For April, the regulator had approved a wholesale natural gas price of 98.16 levs per MWh.
The price mix for May includes the whole quantity of gas supplied by Azerbaijan via the Greece-Bulgaria interconnector (IGB). These volumes will cover 62.65% of the country's consumption in May and are key to achieving the competitive pricing, EWRC noted. Through contracts with regional traders, public gas supplier Bulgargaz has also ensured the addition in May of liquefied natural gas (LNG) to the mix.
(1 euro = 1.95583 levs)