Bulgaria’s parliamentary commission in charge of monitoring the Commission for Energy and Water Regulation (KEVR) is holding an emergency meeting in an attempt to postpone a planned power price hike from July 1.

The parliamentary commission in charge of monitoring the energy watchdog is expected to prepare a draft decision on postponing the power price hike for industrial consumers for a few months, according to reports of the Bulgarian National Radio.

Industrial consumers voiced their vocal opposition to the plans to increase to BGN 40 from BGN 19 the so-called “obligation to society” surcharge, threatening to start stopping work for an hour a day as of June 26.

KEVR Chair Ivan Ivanov vowed that the energy watchdog would say by Friday whether the power price increase would be postponed.

Ivanov said that the increase could be smaller, provided that the government found other means of alleviating the deficits in the energy sector.

KEVR warned that a failure to apply the pricing model they had proposed could result in an increase in the deficit of the state-owned power utility, the National Electric Company (NEK) or an increase in electricity prices for household consumers.

The planned power price hike for industrial consumers has been met with opposition by the government, most notably by Energy Minister Temenuzhka Petkova and Deputy Prime Minister Tomislav Donchev.

Petkova argued on Sunday that energy sector reforms would cut costs of state-owned energy companies by 10% a year over the next three years.

Bulgarian Prime Minister Boyko Borisov has also backed the calls for a postponement of the power price hike for the industry.

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