Bulgaria Cuts Gas Tariffs

Bulgaria's energy and water regulator has cut regulated gas tariffs by 42.8% to levs 25.20 ($14.00)/MWh, effective immediately, it said April 2.

The reduction reflects the 40% cut Bulgaria secured in the price it pays for Russian gas imports last month, which was achieved thanks to an EU antitrust settlement with Russia's Gazprom. Thanks to the lower price, EWRC estimates that household heating bills will fall by 26.5%.

Meanwhile, an intraday gas trade took place on April 1 at Bulgaria's new Balkan Gas Hub trading platform at a record low price of levs 24.5 ($13.70)/MWh on April 1,  Bulgartransgaz said in a statement. The price includes access and transmission costs.

An April gas delivery contract was also concluded at a new low of levs 23.95/MWh, Bulgartransgaz also said.