Bulgarian energy regulator approves wholesale price hike for natgas in June
SOFIA (Bulgaria), June 2 (SeeNews) – The Bulgarian Energy and Water Regulatory Commission (EWRC) has said it has approved an increase in the wholesale price of natural gas for the month of June, to 45, 27 levs ($ 28.19 / 23.15 euros) per MWh.
The price applicable in May was 37.71 levs per MWh.
In its decision, the regulator took into account information on the market indices of European gas hubs and the average euro / dollar exchange rate of the European Central Bank, he said in a statement on Monday.
The increase in the wholesale price of gas in June is higher than expected. Last month, the public gas supplier Bulgargaz proposed to the EWRC to approve a wholesale gas price of 42.54 levs per MWh, valid in June.
According to the regulator’s statement, the approved increase reflects continued price growth in international gas markets. Between April 30 and May 26, petroleum product quotations and prices on European gas markets increased by 22%, EWRC said citing Nikolay Pavlov, Bulgargaz executive director, in an open meeting between the crown corporation and the regulator last month.
At the time, Pavlov said that due to repair work on the Turk Stream gas pipeline on Turkish territory in June, Bulgargaz negotiated with other natural gas suppliers to purchase the necessary quantities of gas at spot prices. , resulting in a slight increase in the price offered for approval by the public supplier. In addition, due to an extension of the launch period for the gas interconnection between Greece and Bulgaria, the quantities of Azeri gas delivered to Bulgaria are lower than the capacity of the gas link, which also affects the price. mix.
Bulgarian energy regulations oblige Bulgargaz to fix the price of gas on a monthly basis. The EWRC has the final say on proposed changes to the wholesale price, at which the state-owned company sells natural gas to end suppliers and to customers directly connected to its transmission network.
(1 euro = 1.95583 levs)