Bulgaria’s energy regulator approved a 32.52% increase in the regulated wholesale natural gas price for November. The decision reflects sharply higher European gas prices and increased import costs. The new price is €58.4/MWh, excluding VAT and excise duty, slightly below the roughly 34% increase requested by public supplier Bulgargaz.
Additional withdrawals from Bulgaria’s Chiren underground storage facility helped curb the rise. The regulator estimated that, without the extra storage gas, the November price would have increased by about 39.37%. European wholesale gas prices had climbed to around €100-105/MWh on the Dutch TTF market, significantly increasing the cost of imported supply.
Bulgaria’s November supply portfolio includes contracted Azerbaijani gas and LNG procured through tenders. The regulated price covers procurement and public-supply costs, as well as expenses for maintaining strategic reserves at Chiren. Higher gas costs are expected to put greater pressure on Bulgarian district-heating companies. The regulator said existing mechanisms should prevent corresponding increases in household electricity and heating prices from January.
