Bulgargaz has defended its previously submitted proposal for a 5% rise in natural gas prices for April before the Energy and Water Regulatory Commission, with CEO Veselin Sinabov stressing that there is currently no justification for any further increases. Sinabov noted that significantly higher gas prices are not expected until mid-year.

“The European market is not showing signs of sudden shocks. Our contract with Azerbaijan ensures that, given current TTF levels, Bulgarian consumers will continue to pay below these benchmarks. Bulgargaz signs annual agreements with clients and guarantees the delivery of the agreed quantities. While we are ready to meet any increased demand, we are not seeing significant uptake at present,” Sinabov explained.

The proposed 5% rise would increase the price of natural gas from 32.60 euros to 34.27 euros per megawatt-hour in April. Looking ahead to the new pricing season starting July 1, it remains unclear how fluctuations on international energy markets may impact electricity and heating costs for households.