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30.03.2017 15:49
Bulgarian Watchdog Gives OK to Interim Power Price Hike
Energy watchdog chief declined to comment on a possible second price increase on June 30
AUTHOR: publics.bg


  • © publics.bg

The price of electricity for Bulgarian households will go up with an average of under 1% as of April 7, Ivan Ivanov, chairman of the Bulgarian Energy and Water Regulatory Commission (EWRC) said on Thursday.
The extraordinary price hike was necessary due to an increase of nearly 30% of the natural gas price as of April 1.

Ivanov said that the gas price hike could not wait a review of the Bulgargaz – Gazprom long-term gas contract due in early May, as the current clauses impose a quarterly review of the price.

Furthermore, the so-called ‘Obligations to Society’ power price component will go up with 4.49 per cent, as well, thus affecting utilities and industrial consumers. Syndicates and industry representatives pointed out that this would lead to competitive hurdles and would hamper payroll growth.

The regular review of electricity prices takes place on June 30. Ivan Ivanov declined to comment whether ther would be another price hike, as power suppliers and distributors are to submit their requests officially on March 31.


TAGS: Bulgaria | electricity | power | price | regulation | Ivan Ivanov 


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