Abstract
Significance This 30% hike, from BGN102.33 in December, was at the request of Bulgargaz, the state-owned gas distributor. The decision came in the wake of a parliamentary vote on December 16 to freeze the charges for household electricity, district heating and water services until mid-March. Impacts Gazprom is using surging utility bills to consolidate its market share in the region through long-term supply contracts. Gas prices may return to pre-crisis levels over the medium term, but the current shock will hinder EU-promoted green transition in SEE. Populists will exploit popular resentment at energy costs during the heating season, scapegoating national governments and the EU.
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