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Bulgarian Energy Watchdog Makes U-turn in Price Forecast

Business » ENERGY | October 31, 2012, Wednesday // 17:21| Views: 1196 | Comments: 0
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Bulgarian Energy Watchdog Makes U-turn in Price Forecast: Bulgarian Energy Watchdog Makes U-turn in Price Forecast Angel Semerdzhiev, Chair of Bulgaria's State Commission for Energy and Water Regulation (DKEVR), changed drastically his electricity price forecast in less than 24 hours. Photo by BGNES

Electricity prices could be bound to go down, according to assumptions of Angel Semerdzhiev, Chair of Bulgaria's State Commission for Energy and Water Regulation (DKEVR).

Semerdzhiev made the statement just one day after his forecast that electricity prices will increase by 3-4% from July 1, 2013, due to the renewable energy surcharge.

"If there are favorable factors, these prices can decrease," the DKEVR Head stated Wednesday during an emergency joint press conference with Economy and Energy Minister, Delyan Dobrev.

The two now say there are no expectations for the price hike. The conference was called after the Bulgarian Trud (Labor) daily wrote Wednesday that the 2013 increase might hit 14% over the costs for the purchase of carbon dioxide quotas for polluting productions, for green energy, and the investment needs of the energy business.

Semerdzhiev noted that currently expectations and forecasts for the increase of prices of electric power in July 2013 were not on the table.

"We anticipate a decrease of the prices of natural gas, which will compensate for the green energy surcharge, and will lower the electricity ones," he said.

Bulgaria is negotiating with Russia a new contract for the prices of natural gas, which is expected to be sealed next week.

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Tags: electricity, prices, DKEVR, Angel Semerdzhiev, State Commission for Energy and Water Regulation, renewable energy, power grid, natural gas, Economy and Energy Minister, Delyan Dobrev, electric power
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