State Regulator to Cut Power Prices in Bulgaria from Jan 1

The prices of electricity in Bulgaria will be reduced with 1-10% for private households and SMEs, announced Boyan Boev, director of the state energy regulatory agency.

"We are reducing the night rate for SMEs with 10%, and the daytime rate - with 1.5%," said the director of the State Agency for Energy and Water Regulation (DKEVR) at a press conference Friday.

"Rates for households will also be reduced - with 10% and 1% for night and daytime, respectively," added he.

The rates of recognized spending on the part of power utilities, as well as the fees for access to power distribution networks, will also be decreased, said Boev.

A public discussion of the move is scheduled for December 27, and the final decision is expected December 30, with the changes effective from January 1.

The DKEVR director stressed that the decrease is motivated not only to lift stress from households, but also to benefit the work of businesses.

There has already been one power price decrease during the term in office of the cabinet of Bulgarian PM Plamen Oresharski, which started in May.

Bulgaria's former PM Boyko Borisov filed his resignation in February after widespread protests against high electricity bills and accusations of cartels in the energy sector.

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