EVN Proposes Rise in Electricity Prices of 6.98%

The electricity company supplying Southeast Bulgaria EVN made a proposal for the price of the service to rise by 6.98% starting July 1 of 2015 in an official statement.

Accoridng to an analysis made by the company, this would be the minum increase that could ensure the return of the energy system to its normal operation.

The proposal will be officially submitted to the State Commission for Energy and Water Regulation. It outlines an increase in day-time consumption price of 6.62% to BGN 0.1822 per KW/h, and the price of night-time consumption to be increased by 8.9% to BGN 0.10606 per Kw/h, no VAT included.

The company's calculations show that if the change is implemented it will increase the monthly bill of a household by BGN 3,45 to BGN 52,8.

EVN stated that it would use the additional financial resource to improve the existing infrastructure that had been slowed down by the national regulatory organs. It reminded that its investments in the sector up until now have been worth BGN 1,1 B.

The company also announced that if the proposal is not approved, it will be obliged to cut its investment budget and provide services of lower quality.

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