The possible reduction of electric power prices in Bulgaria will be below the 8% pledged by Prime Minister, Boyko Borisov, just one day before his sudden decision to resign.

The statement was made by the outgoing Chair of the State Commission for Energy and Water Regulation, DKEVR, Yuliana Ivanova.

She further declined to commit to an exact date when prices would go down, saying it could be any time in the month of March.

Ivanova informed the work group has a Friday at noon deadline for collecting all information and making the needed analyses, so that public debates can be launched. Under the law, new prices become effective after DKEVR decides on them.

According to the outgoing Chair of the energy watchdog, the proposal for the public debates will be announced by Friday evening or Saturday morning.

Meanwhile, outgoing Economy and Energy Minister, Delyan Dobrev, speaking for bTV Friday morning, stated the reduction of the electric power price can be determined only by DKEVR. He voiced hope everyone will learn the exact numbers by the end of the workweek.

"The initial forecast was for 8%; now I hear it would be under 8%. By amending the Energy Act this week, we gave DKEVR green light to change power prices more than once a year and make decisions by using shortcut procedures," said Dobrev.

According to him, there are two ways of lowering prices of electricity – increasing the share of the Kozloduy Nuclear Power Plant, NPP, in the regulated market mix, and reducing the amount of technological losses granted to the power utilities.

On February 21, the Parliament approved the shocking resignation of Prime Minister, Boyko Borisov, and his center-right party Citizens for European Development of Bulgaria, GERB, amidst unprecedented since 1997 protest rallies against extensive utility bills, poverty, monopolies, which grew to a civil unrest against the political model of ruling the country.

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