"Bulgargaz" proposes that the price of gas for December be BGN 145.87 per MWh, which is an increase of 18.58% compared to November

"Bulgargaz" proposes in its application to the Commission for Energy and Water Regulation (KEVR) that the price of natural gas for the month of December be BGN 145.87 per MWh, the gas company announced. This is an 18.58% increase compared to the value for this November – BGN 123.01 per MWh (without access, transmission, excise and VAT prices).

The price, in the amount of BGN 145.87/MWh or EUR 74.5/MWh, calculated according to the fixing of the BNB (without prices for access, transmission, excise duty and VAT), was formed in accordance with Art. 17 of Ordinance No. 2 of 19.03.2013 on the regulation of natural gas prices, the announcement states.

The price offered by Bulgargaz EAD is more than 30% lower than the prices of gas hubs in Europe for delivery in December, which are approximately EUR 113/MWh, the announcement states.

A final proposal to approve the price of natural gas for the month of December 2022 will be submitted to KEVR on 01.12.2022, taking into account the quotations of the pricing components as of 30.11.2022, recalls Bulgargaz.

Meanwhile, "Bulgargaz" earlier terminated the auction on November 14 under the Gas Release Program.

"In connection with the suspended, as of 27.04.2022, deliveries under the long-term contract with OOO "Gazprom Export" and taking into account that at the auctions held so far for delivery in 2022, more than 98% of the quantities provided for in Article 176a of the Energy Law for exemption in 2022, auction on 14.11.2022, no auction will be held under the Exemption Program.

In the event that, at a later stage, Bulgargaz EAD finds that it has free quantities of natural gas for December, the company will offer another date for holding the auction in November," the company announced a few days ago.

On Wednesday, November 9, during the presentation of the tender procedure for the purchase of natural gas and LNG in particular, the executive director of the gas company Denitsa Zlateva drew attention to the significant drop in the consumption of blue fuel (up to 40%).