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Angel Semerdzhiev, Chair of the State Commission for Energy and Water Regulation (DKEVR), photo by BGNES
Bulgaria's National Electric Company (NEK) will start renegotiating the provisions of the long-term contracts with thermal power plants AES Galabovo and Contur Global Maritsa Iztok-3 to achieve lower prices of the electricity produced by the two US-owned TPPs.
Angel Semerdzhiev, Chair of the State Commission for Energy and Water Regulation (DKEVR), made clear Tuesday that the talks were expected to start in the next few weeks.
The long-term contracts with the two TPPs were one of the reasons behind the 13% increase in electricity prices from July 2012.
Semerdzhiev explained Tuesday that Bulgaria's Energy Act made it possible to renegotiate the provisions of long-term contracts.
The DKEVR Chair added that there was plenty of experience that could be used to solve the matter and to ensure the development of the market.
He added that apart from the price restrictions, the contracts also contained restrictions for the electricity quantities that could be traded on a future energy exchange and the matter was also the be discussed.
The main negotiating parties on behalf of the state will be NEK and the Ministry of Energy, Economy, and Tourism, which is in charge of the state-owned power grid operator.
Bulgaria's energy watchdog will also participate in the talks because it will have to approve the changes afterwards.
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