The Bulgarian Commission for Energy and Water Regulation (KEVR) has sanctioned a 0.9% increase in wholesale natural gas prices, effective March 2026. This adjustment is notably less than the 1.7% rise initially proposed by the state-owned supplier, Bulgargaz, earlier this month. The new wholesale price will be approximately 32.6 euros/MWh, excluding VAT and excise duties. This decision follows a previous approval for a 3.7% decrease in February prices, and reflects a significant reduction of nearly 27% compared to the March 2025 price of 44.8 euros/MWh.
The pricing strategy for March 2026 incorporates a full allocation of Azerbaijani natural gas transported through the Greece-Bulgaria interconnector (IGB), under a long-term agreement with Azerbaijan. These deliveries are expected to constitute a substantial portion of Bulgaria’s monthly consumption, thus contributing to stabilizing the market and maintaining competitive pricing.
Additionally, the pricing mix will include liquefied natural gas (LNG) sourced through various contracts with traders, alongside withdrawals from the Chiren underground gas storage facility. This diverse supply strategy is designed to ensure a consistent and reliable flow of natural gas throughout March, addressing both demand and operational stability in the energy sector.
