Bulgargaz

During a briefing at the Ministry of Energy, it was revealed that Bulgargaz intends to pursue legal action against Gazprom Export, seeking damages amounting to BGN 400 million. This decision stems from the termination of gas supplies to Bulgaria by the Russian company in 2022.

Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova, head of the company's pricing department, the expected reduction could range between 5 to 6% compared to the current rate, currently set at BGN 58.84 per MWh (excluding access, transmission, excise, and VAT).

In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May. The company's recent price application to the Energy and Water Regulatory Commission (KEVR) sheds light on its strategic maneuvers and forecasts for the upcoming months.

Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas." The contract, negotiated by the caretaker government, has raised concerns about its financial implications and the utilization of resources.

"Bulgargaz" suggests an 18% decrease in natural gas prices starting next month, potentially lowering costs for consumers to around BGN 58 per megawatt hour.

The proposal was made during a public discussion with the Commission for Energy and Water Regulation, with the final decision expected on March 1.

The Energy and Water Regulatory Commission (EWRC) has approved a substantial 8.4% reduction in the price of natural gas for February, setting it at BGN 71.08 per megawatt-hour (MWh). This significant drop from January's approved price of BGN 77.60 MWh is poised to bring tangible benefits to Bulgarian consumers.

Bulgargaz, the national gas company, projects a notable reduction in natural gas prices by nearly 6% for February. The company has submitted an application to the Bulgarian energy regulator outlining the expected change in pricing.

In a bold move, Prime Minister Nikolai Denkov of Bulgaria has revealed the country's intention to renegotiate the terms of a 13-year gas agreement with Turkey's Botas. Denkov expressed concerns over the unfavorable conditions of the current deal, emphasizing its asymmetry and the substantial financial burden it places on Bulgaria.

"Bulgargaz" anticipates a notable reduction in natural gas prices by approximately 11% starting in January. The proposal suggests a cost slightly below BGN 78 per megawatt hour (MWh).

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz.