Natural gas prices to fall by over 4% in December

Natural gas prices in Bulgaria are set to fall by just over 4% in December, significantly higher than the previously forecast 1% drop, according to calculations by state-owned supplier Bulgargaz, reported BNR correspondent Yuliyana Kornazheva.

This would translate to roughly €32 per megawatt-hour, excluding access, transmission, excise and VAT, Bulgargaz CEO Veselin Sinabov said at a meeting of the Energy and Water Regulatory Commission.

The price reduction is partly due to warmer weather, which has led some district heating and gas distribution companies to request smaller volumes. In addition, falling prices on European energy exchanges are affecting the cost of liquefied natural gas contracted by Bulgargaz for the coming month.