Electricity prices will increase by around 10% from July 1, 2012, when the next regulatory period starts, according to Angel Semerdzhiev, Chair of the State Commission for Energy and Water Regulation (DKEVR).

In a Tuesday statement, Semerdzhiev spoke about the forthcoming connection of a 50 MW photovoltaic park located near the southern Bulgarian town of Parvomay to the national grid.

The solar park was built by US company SunEdison and became operational in March.

The DKEVR Chair explained that data was still being collected about other renewable energy projects scheduled to go online by July 1.

He noted that the projects would affect end prices of electricity.

Semerdzhiev stressed that Bulgaria was performing well in the implementation of the EU renewable energy targets and vowed that Bulgaria would achieve the 16% goal by 2020.

The Chair of the energy watchdog went on to argue that the construction of a gas power plant on the site earmarked for the Belene NPP was technically possible as long as the project could be proven economically viable.

He confirmed that prices of natural gas and hot water would drop from July 1 but refused to commit to a concrete figure, adding that the data of state-owned gas supplier Bulgargaz was not ready yet.

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