EWRC decides in a closed meeting how much to increase the price of natural gas in November

The Commission for Energy and Water Regulation (EWRC) will decide in a closed meeting today what the price of natural gas will be for November, at which "Bulgargaz" will sell natural gas to final suppliers and to persons who have been issued a license for production and transmission of thermal energy.

The Bulgarian Telegraph Agency that during the open meeting held at EWRC on October 26, the director of the Natural Gas Directorate at Bulgargaz Veselin Sinabov indicated that the determining price of the European gas index TTF is BGN 92 per megawatt hour, and the one for November is BGN 100 per megawatt hour. "However, the regulated price will be lower than the levels of European gas hubs," he pointed out. Another reason for the increase is that the liquefied natural gas delivered in October to the terminal in Turkey is less and the required quantities will have to be replaced by others. However, Sinabov did not want to commit to exactly how much the increase will be in November.

Bulgargaz specified that the increase in the price of natural gas in November will be 15 percent lower than the values of the TTF index.

The chairman of the regulator Ivan Ivanov said during the meeting that the price of natural gas in November will be lower than that of the European gas markets, but will be significantly higher than the price that was set for the month of October. Ivanov pointed out that in less than a month, the price on a daily basis of the TTF index (a leading price indicator in Europe - note) has risen by about 45 percent. Natural gas supplies from Azerbaijan, however, lower the overall price of natural gas. These quantities are determined by contract and will no longer determine the price, added Ivanov.

BTA recalls that in the report dated October 11, it was written that "Bulgargaz" proposes for approval a price of natural gas for November of BGN 67.27 per megawatt hour (MWh) - without prices for access, transmission, excise duty and VAT. EWRC confirmed the price of natural gas for October of BGN 60.41 per MWh, excluding access, transmission, excise and VAT prices.