Bulgaria’s government is preparing the full liberalization of the energy market, which is expected to solve the financial problems of the sector and guarantee a fair price for household and industrial consumers, according to Energy Minister Temenuzhka Petkova.

During Petkova’s visit to the Kozloduy nuclear power plant on Friday it emerged that there was no delay in the program for the extension of the life of units 5 and 6 of the N-plant, according to reports of the Bulgarian National Radio.

Petkova made clear that the government was laying the groundwork for the liberation of the energy market from regulatory hindrances as of the beginning of 2016.

She pointed out that a report of the World Bank on the steps towards liberalization was due in October, adding that the transition would be accompanied by an information campaign and discussions on the topic.

“Household consumers and Bulgaria’s industry have long been waiting for the date January 1, 2016. As of that moment, the role of the Commission for Energy and Water Regulation (KEVR) in the new situation will be very minimal. KEVR will then only determine transit and access fees and the “obligation to community” component of tariffs, but the price of electricity will be set by the market,” she said, stressing that the price of electricity was bound to be fair.

Petkova expressed hopes that the financial problems plaguing the sector would be dealt with very soon.

During Petkova’s visit to the Kozloduy NPP, Dimitar Angelov, CEO of the N-plant, informed that the national power utility owed the Kozloduy NPP some BGN 130 M.

Angelov was adamant that there was no risk for the implementation of the program for the extension of the life of units 5 and 6 of the Kozloduy NPP.

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