The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 4.3% decrease in wholesale natural gas prices for December 2025, exceeding the 1% reduction initially proposed by public supplier Bulgargaz in mid-November. The new wholesale price stands at around €32.2/MWh, excluding VAT and excise duty. This follows a 7.88% increase approved for November.
The December price drop reflects the ongoing decline of the TTF benchmark on global markets and reduced volume requests from some consumers. Current wholesale prices are 16.3% lower than December 2024 and 34% below December 2023 levels.
Pricing for December relies heavily on Azerbaijani gas delivered through the Greece-Bulgaria interconnector under a long-term agreement, which covers a substantial portion of domestic demand. Additional LNG cargoes were procured through tenders with minimum price requirements, and withdrawals from the Chiren storage facility complete the supply mix for the month.
With these secured volumes, Bulgargaz is prepared to meet its commitments to end-suppliers, district heating operators, and industrial buyers. Winter contracts are already in place, and KEVR noted that if regional demand remains stable, gas prices are expected to remain near current levels, providing predictability for Bulgarian consumers.
