Blue fuel in Bulgaria continues to become cheaper. Today “Bulgargaz” EAD proposed more than 47 percent lower price of natural gas for November for approval by the Commission for Energy and Water Regulation (EWRC).

In its application, the supplier indicated a price of BGN 123.47 per megawatt hour (MWh) or EUR 63.13/megawatt hour. The final approval of this tariff is expected in a matter of minutes.

The price is for final suppliers and persons who have been issued a license for the production and transfer of thermal energy and is calculated according to the fixing of the BNB (without excise duty and VAT), reports the company.

The effective price for October is BGN 233.36 per megawatt hour (without access, transmission, excise and VAT prices). In comparison, European gas market indices for November 2022 deliveries are at EUR 130/MWh.

Initially, the price announced by the company was BGN 166 per megawatt hour. The significant reduction of the proposed price for the month of November compared to the approved price for October, by more than 47 percent, is due to the competitive prices obtained within the framework of the procedure for the delivery of natural gas conducted by “Bulgargaz” EAD in November and the reduction in the price of the European gas markets, reports the gas company.

The long-term contract of Bulgaria has with Azerbaijan also contributes a lot to cheap gas in Bulgaria. Since last month, our country has been receiving the full amount of blue fuel from the Caucasian republic thanks to the interconnector with Greece.

The new price of gas in Bulgaria is significantly lower than what we would have paid to Gazprom if the company had not unilaterally canceled the supply contract to our country.