Electricity Prices Might Soar from October 1 - DKEVR

Business » ENERGY | June 26, 2014, Thursday // 13:23| Views: | Comments: 0
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Bulgaria: Electricity Prices Might Soar from October 1 - DKEVR The measure is designed to reduce the debt of Bulgaria's national energy utility. File photo

Energy bills in Bulgaria might gradually go up starting October to cover deficits at the state-owned utility NEK, the state electricity regulator announced.

DKEVR, the energy watchdog, earlier announced the National Electricity Company (NEK)'s debts amount to BGN 2.4 B (EUR 1.2 B) over the past four years.

An abrupt increase of bills is however not envisaged, website Dariknews.bg quoted DKEVR head Boyan Boev as saying.

Price hikes might be introduced on a quarterly basis, a measure already applied for natural gas, heating, and hot water.

Boev underscored any changes could be avoided only if Brussels responded properly to a complaint DKEVR lodged Wednesday regarding state aid granted to two US-owned thermal power plants and to renewable energy producers.

So far the EU Commission has not provided an official answer.

The energy watchdog also suggests that prices for purchasing electricity from the two TPPs be reduced and that the quota of renewable energy bought to be pumped into the system be curtailed.

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Tags: DKEVR, Boyan Boev, NEK, debts, electricity prices, bills, TPPs, renewable energy
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