Azerbaijani gas was projected to account for 76.6 per cent of Bulgaria’s domestic consumption in May.
The Energy and Water Regulatory Commission (EWRC) said that the long-term gas contract with Azerbaijan, which is linked to oil prices on international markets, rather than prices on gas hubs, played a role in “achieving beneficial prices,” News.Az reports citing The Sofia Globe.
The rest of the gas for domestic consumption was secured by state-owned gas company Bulgargaz via a liquefied natural gas (LNG) delivery contract, the regulator said.
Bulgaria’s utilities regulator has approved a seven percent cut in the regulated gas price in the country for the month of May, setting the new price at 54.7 leva a MWh, excluding transportation costs, excise, and value-added tax.
The regulator did not give a reason for the price reduction, which follows a small increase in April, but said that it took into account the price trends on international gas markets.
