The utility regulator in Bulgaria has approved a 30.7% decrease in the price of gas for the month of February. The new price will be 124.34 leva per MWh, without transportation, excise, or value-added taxes.
The recent price cut for gas puts the price only slightly above the price in November 2022, when it cost 123.01 leva per MWh. This effectively cancels out the price hikes that were approved by the Energy and Water Regulatory Commission in the last two months.
The EWRC (European Wholesale Electricity Market) stated on February 1st that the primary reason for the decrease in price was due to the lower price of gas on international markets. This is a result of both the warm weather and the fact that European gas storage is still relatively full.
Ivan Ivanov, the head of the regulator, stated that the lower price would have a positive impact on key consumers, allowing the regulator to keep central heating prices unchanged for the rest of the winter heating season.