Bulgarian Energy Watchdog to Decide on Electricity Bills

Energy | September 30, 2014, Tuesday // 08:17|  views

The inscription reading "State Commission on Energy and Water Regulation" (DKEVR) is seen here after being pelted with eggs on September 25, when an angry member of a civic movement tried to hit DKEVR's head SvetlaTodorova. Photo by BGNES

A final decision is expected Tuesday at the state energy regulator DKEVR about the price hike in electricity to be enforced on October 1.

The increase is likely to be of 10 percent, according to preliminary estimates and also to numerous statements recently made by DKEVR officials.

Huge deficits at the state-owned National Electricity Company (NEK), running at BGN 1 B loss as of 2014, are to be addressed with the hike.

State Commission for Energy and Water Regulation (DKEVR)'s head Svetla Todorova has called any increase exceeding 10% "socially unacceptable".

Incomes from the new prices are expected to pump BGN 140 M into NEK, DKEVR data quoted by website Dariknews.bg

The watchdog has made clear pushing bills up is just one of the many measures expected to help the energy sector back on its feet.

Interim Economy Minister confirmed earlier in September the national company is also facing debts standing at BGN 3 B.

The issue of soaring energy prices is potentially explosive in Bulgaria. Conservative GERB resigned following days of protests against a hike in February 2013.

Last week DKEVR angry citizens and civil activists pelted DKEVR members with eggs over what they describe as the regulator's adherence to a political line, and new protests over the increase are expected later on Tuesday.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: DKEVR, electricity, bills, energy, prices, hike, GERB


» Related Articles: