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!
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
Amidst Ukraine's urgent need for additional power sources following the closure of the Russian-controlled Zaporizhzhia nuclear power plant
Bulgarian lawmakers have taken a significant step toward bolstering the nation's energy infrastructure by advancing cooperation with the United States for the construction of Units 7 and 8 at the Kozloduy Nuclear Power Plant
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
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022