site.btaRegulator Sets Natural Gas Price for March at 113 lv/MWh, Up by 3.5% M/M

The Energy and Water Regulatory Commission (EWRC) set the natural gas price for March at 113.73 leva/MWh exclusive of access, transmission, excise and VAT charges, the regulator said on Monday. It is an increase by 3.5 per cent compared with February.

The increase is due to the smaller gas reserves in the Chiren gas storage facility and the record-high prices on European exchanges. Production of gas from Chiren has been suspended and gas is being injected into the storage facility on an order of the Energy Minister in case supplies of natural gas are disrupted.

The regulator took into account the current market indices on European gas hubs by February 28, the oil derivatives indices and the average monthly exchange rate between the euro and the US dollar, laid out in the price proposal by Bulgargaz of March 1.

The approved price of 113.73 leva/MWh also includes supply and storage costs.