Financial and business news from Bulgaria

Forecast for May: 34.44 BGN per megawatt-hour gas price in May

BGN 34.44 per megawatt-hour is Bulgargaz's forecast for the price of natural gas for May, the company reports. It is free of prices for access, transfer, excise duty and VAT. By law, the company is obliged to announce its forecasts a month before submitting an application to the EWRC how much gas should cost. The projected gas price reflects the development of European gas markets and quotations of alternative gas fuels as of March 10.
The final price will be offered for validation by the EWRC on 1 May, taking into account quotations of pricing components as of April 30.

The price for March, which EWRC determined on the first day of the month, is 28.64 BGN per megawatt-hour. For February the established price of natural gas by the regulator was 30.39 BGN per megawatt-hour, which means a decrease for March by 5.76%. An increase is expected for April, as Bulgarlgaz submitted an application for a price of BGN 32.32 on March 10.