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Bulgargaz: Dramatic increase in natural gas prices expected in November 

Photo: Alamy/ Reuters

The price of natural gas will increase by about 20% in November, according to estimates by state-owned supplier Bulgargaz. This is twice as much as the 11% increase announced at the beginning of October.
"The price will be lower than on the European gas markets, but significantly higher than the price set for October," confirmed the chairman of the State Energy and Water Regulatory Commission, Ivan Ivanov.
 
"Bulgargaz refused to commit to a specific price due to the complicated geopolitical situation and the continuously rising prices on international markets. Initially, the price announced by the company was just over 67 leva (34.24 euro) per megawatt-hour.
 
On the European exchange market, natural gas is currently sold for around 50 euro per megawatt-hour. 

The Commission will announce its final decision on the gas price on 1 November.

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