The Bulgarian Commission for Energy and Water Regulation (KEVR) has sanctioned a 5% increase in the wholesale natural gas price, bringing it to 35.98 euros/MWh, effective May 2026. This adjustment aligns with the proposal from the state-owned supplier Bulgargaz submitted in mid-April and reflects ongoing regulatory adaptations to market conditions.
This latest price hike follows a previous increase of 5.1% implemented in April, indicating a trend of moderate and controlled growth in gas pricing relative to broader European market fluctuations. Despite this upward adjustment, the current wholesale price remains approximately 10 euros/MWh lower than the rates observed at the Title Transfer Facility (TTF), which is a significant benchmark for gas prices in Europe. This discrepancy helps maintain competitive domestic tariffs, thereby providing consumers with some insulation against the heightened volatility seen in other regions.
KEVR has highlighted several factors that may impact future gas pricing, including geopolitical tensions affecting supply routes, the rate of storage replenishment, and intensifying competition for liquefied natural gas (LNG) between Europe and Asia. These elements contribute to a complex pricing landscape that stakeholders must navigate in the coming months.
To meet its gas demand for May, Bulgaria plans to utilize a diversified supply strategy. Central to this approach will be deliveries from Azerbaijan through the Greece-Bulgaria interconnector, complemented by LNG imports arranged by traders and withdrawals from the Chiren gas storage facility. This strategy is designed to ensure supply stability and flexibility, crucial for managing demand fluctuations.
Furthermore, authorities have indicated that a long-term agreement with Azerbaijan is poised to fulfill nearly all of Bulgaria’s gas consumption during the summer months. This arrangement is expected to mitigate dependence on unpredictable spot markets, thereby enhancing energy security and predictability for Bulgaria’s energy landscape.
