Ivan Ivanov, Chair of Bulgaria’s Commission for Energy and Water Regulation, has underscored that EU law entitles large industrial enterprises to discounts on the “obligation to society” surcharge included in electricity prices.

Speaking Tuesday at a forum devoted to the liberalization of the energy market, Ivanov made clear that the shopping malls, closed-type residential complexes, and Black Sea coast hotels which had applied for the discount did not match the requirements set out in the EU Directives.

Ivanov, as cited by the Bulgarian Telegraph Agency, said that he was hoping that the energy exchange would start functioning on November 2 and that the energy market liberalization would be completed by the beginning of 2016.

The Chair of Bulgaria’s energy watchdog noted that the launch of the energy exchange and the liberalization of the energy market would render the commitment of KEVR related to price regulation for end-consumers obsolete.

He claimed that the only thing that would be left for KEVR to do in this sphere would be to determine the so-called “obligation to society” surcharge calculated on the basis of renewable energy expenses, co-generation plants expenses, and expenses generated by purchasing energy from the two US-owned thermal power plants.

Ivanov specified that KEVR would announce on Friday whether a postponement of the planned power price hike for the industry had been agreed.

He underscored that Bulgaria’s Parliament was to also come up with a decision on the matter.

The Chair of Bulgaria’s energy watchdog reminded that an ordinance to the Energy Act drafted by the Energy Ministry, the Economy Ministry, and the Finance Ministry would grant large energy-intensive enterprises an 85% discount on the “obligation to society” surcharge once it was conclusively approved.