Bulgaria Braces for 8% Spike in Natural Gas Costs Next Month

Business » ENERGY | May 30, 2024, Thursday // 12:06
Bulgaria: Bulgaria Braces for 8% Spike in Natural Gas Costs Next Month @Pixabay

During an open meeting, Ivan Ivanov, the chairman of the Commission for Energy and Water Regulation, revealed that the price of natural gas is set to increase by slightly over 8% in June. This announcement comes after the regulator discussed the proposal put forth by "Bulgargaz" on May 16. Ivanov stated that the price would escalate from nearly BGN 55 per megawatt hour this month to BGN 59.55 in June. The final decision regarding this price adjustment will be determined after a closed session scheduled for June 1.

Bulgargaz had previously announced plans to commence a tender procedure in June for the delivery of 1,000,000 megawatt hours of liquefied natural gas (LNG) through a terminal in Turkey. This initiative aligns with an agreement reached with the Turkish state company Botas. The anticipation surrounding this upcoming tender reflects efforts to diversify natural gas sources and ensure supply stability within the region.

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Tags: gas, Bulgaria, price, increase

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