Power Rates in Bulgaria Not Likely to Rise again in July – Outgoing Minister

There is no reason for electricity prices to rise on July 1 after the price drop to be introduced on March 5, according to Bulgaria's outgoing Economy and Energy Minister Delyan Dobrev.

In a Tuesday interview for the Bulgarian National Television (BNT), he explained that power distributors were expected to submit objections, if any, by noon on Tuesday, with the State Commission for Energy and Water Regulation (DKEVR) to announce the new prices of electricity taking effect on March 5 later the same day.

On Monday, outgoing DKEVR member Lili Mladenova pointed out that the upcoming reduction in electricity rates would not result in financial losses for the three power distributors functioning (CEZ, EVN, and Energo-Pro) in the country and the National Electric Company (NEK).

The expert noted, however, that it was too early to comment on electricity prices from July 1 on.

In his Tuesday statement, Dobrev, as cited by econ.bg, emphasized that the 7% decrease in electricity prices would be felt by consumers.

He went on to say that the Ministry of Economy, Energy and Tourism had fulfilled its commitments to the protesters to nearly 100%, except for the nationalization of power distributors, which he said was harmful to even mention in Bulgaria.

Asked why power rates were dropping just now, he pointed out that the energy watchdog, an independent body, had exercised inefficient control over power distributors and electricity prices.

DKEVR, however, cited the legal framework in its defense, which, before the recent amendments, had only allowed for electricity prices to be updated once a year.

DKEVR is expected to announce a reduction in electricity prices by 7.17% for customers of CEZ, by 7.28% for customers of EVN, by 6.22% for customers of Energo-Pro as of March 5.

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