Bulgaria is bracing for a substantial hike in water prices as the Commission for Energy and Water Regulation gears up to implement new rates starting January 1, 2024. The impending changes indicate an average increase of 15% in water costs nationwide, marking a significant rise in bills for consumers.

The anticipated surge in water prices is expected to have a widespread impact, with some regions facing a staggering surge of up to 40% in fees. While smaller increments are projected in certain areas, such as Kyustendil with a marginal 1.5% uptick, Sliven is facing a substantial 41% surge, and Vidin anticipates an increase of nearly 30%.

Across most regions, consumers can anticipate water rates varying between BGN 3 and BGN 6 per cubic meter. Notably, Gabrovo, Blagoevgrad, Burgas, Veliko Tarnovo, Vratsa, Lovech, and Montana are among those expecting a significant price hike of around 20%.

"Sofia Water" calculations depict a notable increase of 22.5%, raising rates from 2.94 to 3.60 per cubic meter. However, in the Sofia region, a comparatively modest 8% hike is anticipated.

Commission Chairman Ivan Ivanov defended the impending rise, citing economic justifications linked to fee adjustments in the water supply sector, fluctuations in electricity prices, and accumulated inflation as primary factors.

The final decision on the revised water prices slated to take effect from January 1 is expected to be concluded during today's closed session.