Bulgaria: Natural Gas in June will become cheaper by 15% thanks to the Azeri Gas Interconnector

"Bulgargaz" proposed a 15% reduction in the price of gas in June, and the state energy regulator EWRC approved the proposal at its meeting today.

BGN 65.82/MWh (without excise duty and VAT) is the final proposed price for the month of June 2023 at which Bulgargaz EAD will sell natural gas to final suppliers and to persons who have been issued a license for production and transmission of thermal energy.

The proposed price is 15% lower than the approved price for May 2023.

The price reduction is a favorable factor for household consumers, businesses and heating companies, stated EWRC.

The regulator found that the total estimated quantity for the domestic market was provided by two different sources of supply.

The price mix for the month of June includes the entire agreed amount of Azeri natural gas delivered via the "Bulgaria - Greece" interconnector /IGB/, according to the current long-term contract with Azerbaijan. These quantities cover 70.3% of consumption for the month and are of key importance in achieving favorable prices for the blue fuel.

After organizing a tender procedure, "Bulgargaz" concluded a contract for the supply of liquefied natural gas (LNG) with a trader from the region for the month of June. The contract is subject to requirements for a minimum delivery price and a proposed method of payment.