KEVR okays April gas price rise in Bulgaria, keeping regulated pricing below European benchmarks

Bulgaria’s regulated approach to gas pricing is set to change slightly next month, but remain distinct from wider European wholesale moves. The country’s Commission for Energy and Water Regulation (KEVR) has approved an April 2026 increase in its wholesale natural gas price—while still keeping Bulgaria meaningfully cheaper than key benchmark markets.

Approved April level and how it compares with March

The regulator has sanctioned a 5.1% increase in the wholesale natural gas price for April 2026, based on a proposal submitted by public supplier Bulgargaz in mid-March. The approved figure is 34.27 euros/MWh, with VAT and excise duties excluded.

This follows a smaller adjustment earlier: KEVR had previously greenlit only a 0.9% increase for March.

Bulgaria still undercuts European hub prices

While the monthly update raises costs relative to March, it does not erase Bulgaria’s competitive position versus international trading levels. The new regulated price is about 20 euros/MWh lower than international market quotations, which supports households and businesses relative to broader regional pricing trends.

The gap is particularly visible against the Dutch TTF hub, Europe’s main gas benchmark, where prices have climbed in recent days to around 54 euros/MWh. The comparison underscores how Bulgaria’s regulated pricing diverges from prevailing conditions on open wholesale markets across Europe.

Year-on-year: lower than April 2025 despite the uptick

The April setting also looks favorable compared with last year. Historical data cited by KEVR indicate that today’s level is roughly 10.7% lower than in April 2025, when Bulgarian natural gas was priced at 38.39 euros/MWh.

Taken together, the update reflects a balance between adjusting for changing inputs and retaining insulation from some of the most pronounced swings seen on European gas exchanges—helping preserve relative stability through short-term volatility.