The Energy and Water Regulatory Commission (EWRC) approved a natural gas price for July of BGN 60.58 per MWh - excluding access, transmission, excise and VAT charges, the regulator said. Bulgargaz will sell natural gas at this price to final suppliers and to persons who have been issued a licence for production and transmission of thermal energy.
The price is by 8% lower than the one for the previous month (BGN 60.58 MWh).
The price mix for July includes the entire contracted quantity of Azeri natural gas supplied via the Bulgaria-Greece Interconnector (IGB), under the existing long-term contract with Azerbaijan. These volumes cover 72.2% of consumption for the month and are key to achieving favourable blue fuel prices. Following a tendering process, Bulgargaz has concluded one LNG supply contract for June with a trader from the region. The contract is subject to minimum delivery price requirements and a proposed payment method, the EWRC added.
The secured quantities cover the commitments of the public supplier for June - to the final suppliers and heating companies, as well as the quantities under the bilateral contracts with industrial customers, the regulator pointed out.
During an open session on June 28, EWRC head Ivan Ivanov said that this shows the benefit of the agreement which Bulgaria has with Azerbaijan. "It literally serves as an anchor for the price, as it does not depend on TTF," said Ivanov.