Bulgaria’s utilities regulator said on December 1 that it approved an increase to gas prices in the country by 9.8 per cent for the coming month, setting the new price at BGN 102.33 a MWh, excluding transportation costs, excise and value-added tax.
The price approved by the Energy and Water Regulatory Commission (EWRC) was higher than the one initially requested last week by state gas company Bulgargaz, which was BGN 96.14 a MWh.
In its statement on December 1, EWRC said that it approved an updated request from Bulgargaz, which took into account price increases on European gas markets in recent days.
The regulator’s statement said that despite the higher-than-expected price increase, Bulgarian consumers still paid 35 per cent less than the price on European gas hubs, according to Bulgargaz data.
The regulator-set gas price in Bulgaria has risen sharply in 2021, having nearly quadrupled from BGN 26.93 a MWh in January 2021.