Bulgaria’s Govt Opposes Power Price Hike as of July 1 – Deputy PM

Business » ENERGY | June 21, 2015, Sunday // 14:28
Bulgaria: Bulgaria’s Govt Opposes Power Price Hike as of July 1 – Deputy PM Bulgaria's Deputy Prime Minister Tomislav Donchev, photo by BGNES

Bulgaria’s government opposes the planned increase in power rates as of July 1, according to Deputy Prime Minister Tomislav Donchev.

Speaking after a Sunday meeting at the Council of Ministers, Donchev made clear that all political parties had expressed their opposition to the measures proposed by the Commission for Energy and Water Regulation (KEVR).

Under the proposal of KEVR, industrial consumers face a power price hike of 13-20% as of July 1.

He noted that Sunday’s meeting had been organized to discuss opportunities for alleviating the difficult situation in the energy sector.

Donchev, as cited by the Focus news agency, said that the measures had been discussed by ministers, KEVR representatives, and members of “all political parties, except for one.”

He underscored that Bulgaria’s energy sector was plagued by a deficit amounting to around BGN 4 B, which had been accumulated over the past 5 years.

Donchev admitted that a number of other EU Member States were facing similar energy sector deficit rates.

He declared that the set of measures proposed by KEVR had been met with a range of responses, adding that the “Preparation and Market Liberalization” section of the report was “indisputable.”

Donchev opposed allegations that Bulgarian politicians were seeking easy options to protect their interests in the energy sector and in renewable energy production in particular.

Meanwhile, Energy Minister Temenuzhka Petkova said that all participants in Sunday’s meeting had agreed on the need to implement measures to support the energy sector.

She underscored that KEVR had been authorized to implement such measures, adding that the government had amended the Energy Act to make the energy watchdog an independent entity.

Petkova, as cited by the Focus news agency, said that the participants in the meeting had decided to give priority treatment to the goal of reducing the expenses of state-owned energy companies.

She informed that the expenses of state-owned energy firms would drop by 10% on an annual basis over the next three years.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Tomislav Donchev, Deputy Prime Minister, electricity prices, Temenuzhka Petkova, Energy minister, Commission for Energy and Water Regulation, KEVR
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria