From the next month, the electricity price for industrial consumers will be increased by 30% to 60%. Currently, businesses pay electricity bills at a tariff of 70 BGN per megawatt hour. Business owners in the Northern Bulgarian city of Rousse say that the very announcement of the plans for the price increase has already had a negative effect on both producers and consumers.

Filip Haivazyan, owner of a bakery in central Rousse says he long ago replaced the monopoly and buys power from the liberalised market. He explained that this had led to reduction in electricity bills, but they still remain high. Electricity, although not being a major component in determining the cost of production, has an impact.

If there is an increase in the price of electricity, says Filip Havazyan, this will inevitably affect the prices of the end product. He forecasts a customer outflow.

Any such news about electricity price hike also affects the turnover of business like outs, he says..

It is yet to be clear what will be the increase in industrial electricity prices. Meanwhile, unfair businesses may take advantage of the the lack of specific information and raise prices, which will inevitably lead to new, higher prices of goods, he added.

Source: The Bulgarian National Television

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