Bulgarian Energy Commission Postpones Price Increase Decision

The Еnergy and Water Regulatory Commission held a closed sitting Monday and took the decision of extending the term at which electricity prices would remain intact.

They will mark an slight increase, however, starting August. The law amendment concerning energy distribution in Bulgaria has been voted late last week.

According to the decision of the Bulgarian energy regulator, the ministers of finance and energy will issue an order for the decrease of the required input from renewable sources.

According to energy distribution companies in Bulgaria, severe losses have been incurred by them and one of the main reasons has been the obligation they have to purchase the still relatively expensive renewable energy.

As a result, the Commission will be expecting the legislative organs to create more opportunities for optimization of the expenses and thus allow for an increase in prices for industrial consumption starting August. Additionally, the ministry will need to order inspections at local water power plants and perhaps order the closing of some as they don’t comply with all legislative requirements.

This is a move that if put into practice would largely benefit power plants with high percentage of foreign investments, including Maritsa Iztok.

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