In November, gas prices in Bulgaria could drop by 45%. Denitsa Zlateva, executive director of “Bulgargaz,” stated this during the Energy and Water Regulatory Commission’s (EWRC) open meeting, which also covered the national supplier’s new pricing offer for the following month.
The regulator’s suggested price is BGN 130 per megawatt hour, down from BGN 233 in October. LNG tenders with two suppliers were successful, resulting in the price. Both the beginning of the interconnector with Greece, through which Bulgaria receives the complete agreed-upon volumes of Azeri gas, and the lower pricing on international exchanges are to thank for the sharp price drop.
Ivan Ivanov stated that due to the high cost of gas, EWRC would not increase the cost of heating on January 1. He asserts there is no expectation of inflation in electricity costs.
As suggested by the EU, the Chiren gas storage is 88% full and is anticipated to be 90% complete by November 1. Gas storage facilities in several EU nations are approximately 90% full and ready for the upcoming winter. To brace for gas issues as Russia cuts off gas supplies to Europe for supporting Ukraine in the Russia-Ukraine war, the EU advised all countries to fill their gas storage tanks to 90% by November 1.
Ivanov claimed that Bulgaria had not made such a commitment to the EC on the exit of homes to the free electricity market, as specified in the requirements for payments under the Recovery Plan. By the end of December 31, 2025, according to the Brussels-approved deadlines, households must leave the regulated market.
Ivanov also stressed that the exit of home subscribers from the free market is not efficient before this date and given the current condition of the world and that EWRC will support this perspective.
According to Denitsa Zlateva, Bulgargaz is taking part in tenders for terminals in Italy and Turkey and securing liquefied gas slots at the Greek Revithoussa terminal.