"Bulgargaz" offers Higher than announced Price of Natural Gas for December

Business » ENERGY | December 1, 2022, Thursday // 12:54
Bulgaria: "Bulgargaz" offers Higher than announced Price of Natural Gas for December @Pixabay

New adjustment of the price of natural gas for December. It will be slightly higher than announced a few days ago. What the energy regulator will approve this afternoon is BGN 146 and 83 cents per megawatt hour, Nova TV reported.

The proposal for a correction to a higher value was made this morning by "Bulgargaz". The Energy and Water Regulatory Commission (EWRC) explained the increase with sharp changes in world stock markets. "In the afternoon, the price of natural gas for December will be announced. The updated offer of ‘Bulgargaz’ is 146.83 cents - about 1 lev more than the announced one. Until a few days ago, it was believed that the price would be lower than announced, but in TTF the price of gas is increasing. The price in the winter months shows growth and it can be controlled in the only way so far through a rate of quantities from the gas storage in Chiren. It has a price significantly higher than that at which natural gas is sold to Bulgargaz. The reason is that it was stored during a period when the price of the exchanges was too high. There is another opportunity to influence the price in a positive direction - if the Law on corporate income taxation is adopted in the second reading, buying a smaller amount of natural gas from ‘Bulgargaz’ and increasing the influence of the Azeri gas company. This is how the price of gas can be lowered," explained EWRC chairman Ivan Ivanov.

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Tags: Bulgargaz, gas, price, EWRC

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