Bulgaria's Interim EconMin Supports Gradual Energy Price Hike

Energy | September 3, 2014, Wednesday // 16:05|  views

Caretaker Economy Minister Vasil Shtonov. Photo by BGNES

Caretaker Economy and Energy Minister Vasil Shtonov spoke in favor of a gradual rise in electricity prices in the next years.

After the Council of Ministers held its regular session on Wednesday, he warned deficits in the energy sector could grow further unless urgent measures are adopted in the energy sector.

It is, however, within the competences of the energy watchdog DKEVR to raise prices, the website Dariknews.bg quoted Shtonov as saying.

He stressed the current gap in the budget of that sector stood at BGN 2.9 B and could grow to BGN 4-5 B by end-2015.

Shtonov described measures adopted by DKEVR so far as "ineffective" and underscored the new strategy should target energy contracts, the price of electricity from renewable energy sources, co-generation and power stations not complying with environmental norms, but also more efficient governance of investment and operational policy of state-owned entities.

Earlier the Council of Ministers appointed a new Chair and two new members of the energy watchdog.

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Tags: Vasil Shtonov, DKEVR, Council of Ministers, energy, electricity


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