Majority of Bulgarians Fear Impact of Green Deal on Electricity Bills
Amid the implementation of measures under the European Union's Green Deal, 64% of Bulgarians have identified the escalating electricity prices as their top concern
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
It is unrealistic to suggest that electricity prices will increase by 30-40% after the launch of the power exchange, according to Ivan Ivanov, Chair of Bulgaria’s Commission for Energy and Water Regulation (KEVR).
Ivanov, as cited by private TV station bTV, told journalists Wednesday that although there were people who probably wanted such price spikes, the trading platform would remove any concerns about this.
He said that all activities related to the installation of the trading were supposed to be wrapped up by end-September, adding that any necessary legislative changes would be adopted parallel to that.
Ivanov noted that then there would be a three-month period for carrying out tests so that as of the beginning of 2016 the power exchange could start functioning, according to reports of the Bulgarian Telegraph Agency.
“Over the remaining months by the end of 2015 it is to become clear what segment of electricity will be offered for sale on the free market and whether there will be an option for a reserved regulated market in order to make sure that there is no risk for household consumers in the first few months after the launch of the electricity exchange,” Ivanov added.
The Chair of KEVR argued that Bulgaria had to introduce the power exchange as fast as possible, stressing that the outcome would be positive both for energy companies, which would compete with one another on equal terms, and for Bulgarian consumers.
He was positive that the launch of the power exchange would result in improved quality and price competitiveness.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Bulgarian Parliament has ratified the Agreement between the Government of the Republic of Bulgaria and the Government of the United States on cooperation regarding the construction of nuclear power at the Kozloduy Nuclear Power Plant
During a forum in Alexandroupolis, US Assistant Secretary of State for Energy, Jeffrey Payatt, highlighted the significance of a gas pipeline project through Bulgaria as the next pivotal step for energy development in the region
Prime Minister Nikolai Denkov addressed concerns over the long-term storage of nuclear waste during a parliamentary control session in Bulgaria today
Effective March 1, Bulgaria has officially halted the use and importation of Russian oil for fuel production, following a decision by the Parliament to drop the derogation
"Bulgargaz" suggests an 18% decrease in natural gas prices starting next month
In a recent report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on Wednesday, it was revealed that demand for natural gas in Europe experienced a significant decline last year, dropping to its lowest level in a decade
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion