The Austrian-owned electricity supplier EVN has invested over BGN 450 M in Bulgaria for the last four years.

The sum was announced Friday by the Chair of the company's governing board Gunter Brambock as quoted by the Pari Daily.

According to Brambock, the electricity in Bulgaria was twice cheaper than that in the other EU states.

In his words, the 17% increase in the electricity prices in Bulgaria since July 1 had not improved the company's situation as only 1% of that goes to the electricity supplier, whereas the rest of the increase goes to the electricity producers and the National Electric Company NEK.

EVN is set to decide on its investment priorities for 2009 in the coming weeks. The company is the electricity provider on one third of Bulgaria's territory - the region between the cities of Plovdiv and Burgas in the southeast part of the country.

The electricity consumption in the EVN-serviced districts is growing by 4-5% each year, according to data provided by the company.

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