site.btaEnergy Regulator Assures Heating, Electricity Prices for Households Remain Unchanged from January 1

The prices of heating and electricity for households will not be raised with the coming of the new year, chairman of the Energy and Water Regulatory Commission (EWRC) Ivan Ivanov told journalists on Friday.

The main reasons are the mild winter and the sharp fall in the price of natural gas on the Dutch gas exchange, he explained.

The price of natural gas for January will be significantly lower than the BGN 204.53 per 1,000 cubic metres excluding taxes and fees requested by Bulgargaz earlier this month, Bulgargaz CEO Denitsa Zlateva said. In her words, the company's final offer will be at least BGN 18 lower or BGN 186.53 per 1,000 cubic metres. The company has also managed to virtually inject natural gas into the Chiren storage facility, Zlateva said.

For 2023, all natural gas volumes are guaranteed from six suppliers. Bulgargaz has diversified not only the suppliers but also the natural gas routes to make sure that there will be no supply disruption, she added.

Currently, there is no use of natural gas from Chiren and the storage has 20% more gas than usual, Ivanov said. He pointed out that Bulgargaz' contract with Gazpromexport expires on December 31 and it is obvious that Bulgaria can do without supplies from Russia. In his words, the gas storages in Europe are full and if the warm weather on the continent lasts a few more days, we could have gas for three months, even if supplies are stopped.

Measures have been taken to rescue Bulgargaz financially. The company has no outstanding amounts to suppliers and to the state budget. The outstanding amounts are collected in a short time, Zlateva said. Toplofikacia Sofia (the capital's district heating utility) has almost fully paid in advance the amount of natural gas used in December, she added.

According to her, Bulgargaz was at a profit of just over BGN 9 million at the end of November.

The price of natural gas will be determined at a closed meeting of the EWRC on January 1 and will be announced immediately, Ivan Ivanov said.