The Commission for the Regulation of Energy and Water Resources (KEVR), approved the price of natural gas in Bulgaria, from May 1, 2022, blue fuel will cost 162.17 leva per MWh (excluding access, transmission, excise and VAT prices).

According to bourgas.ru, the Energy and Water Regulatory Commission (KEVR) approved the price of natural gas in Bulgaria, from May 1, 2022, blue fuel will cost 162.17 leva per MWh (excluding prices for access, transmission, excise and VAT). This was reported by the press service of KEVR.

The main reason for the increase is the unilateral suspension of supplies by Gazprom, the regulator said in a statement.

In an extremely short period of time, the state supplier Bulgargaz took steps to secure full replacement quantities from new suppliers, fully covering the needs of Bulgarian consumers.

Due to the end of the heating season, the price change will have a minimal impact on the bills of residential consumers, KEVR notes.

At the same time, for June 2022, the updated forecasts of Bulgargaz for gas prices show a price of about 140 leva/MWh, which is comparable to the price for April 2022 and significantly lower than the price for May. The main factor for this is the deals concluded by Bulgargaz for direct supplies of liquefied natural gas from producers, without intermediaries, at lower prices than those of Gazprom. It is expected that at the beginning of next week, after the completion of trade negotiations for the supply and transportation of liquefied gas, Bulgargaz will submit an official bid with a price offer for June.

The commission set the natural gas price for May after an in-depth review of an updated application filed by Bulgargaz on May 13, the report said. The proposed price of the state supplier was formed as a result of numerous transactions concluded with natural gas traders according to the “lowest delivery prices” criterion. The price mix for May also includes the entire quantity under the annex to the contract from 2019 with a supplier company from Azerbaijan. Thus, the needs of residential consumers, heat supply enterprises and industrial consumers, as well as the volumes of natural gas under the supply program, will be fully satisfied, the regulator assures.

“For the first time, Bulgaria will become 100% energy independent in terms of natural gas supplies from Russia. Even in this emergency, Bulgargaz provides the required amount for all consumers, and there will be no restrictions on consumption. This is extremely good news, given the short response time following the unilateral suspension of supplies by Gazprom, KEVR Chairman Stanislav Todorov said at a public meeting on April 29, 2022.

The decision of KEVR on the approval of the price of natural gas dated 05/01/2022 is published on the regulator’s website.

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