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Bulgarian energy watchdog seems to be backpedaling on intentions to lower electric power prices. File photo
The Bulgarian State has ceded Wednesday from an earlier decision to immediately strip the local unit of power distributor CEZ of license.
Instead, the State Commission for Energy and Water Regulation (DKEVR) issued a deadline of April 16 for CEZ to eliminate all established violations. On this date, DKEVR will hold a new sitting to examine again the issue with the revocation of license.
No further details are available at the moment, but one day earlier Prime Minister Boyko Borisov suggested at a press conference that the license of the Czech energy company would be revoked by the end of the day.
The latest news, however, came in the aftermath of Borisov's sudden decision to resign from the post.
After he announced his surprising plan, it also emerged that DKEVR is backpedaling on intentions to lower electric power prices.
Its management has explained that they have not yet received a request for changing the quotas of the National Electric Company, NEK, and of the Energy System Operator, ESO, and no decision could be made without them by the regulator.
At the same press conference, Borisov pledged the prices of electric power will go down by 8% by March 1.
The DKEVR lawyers have failed to explain Wednesday if the above was legally possible and if there will be any reduction of prices of electricity at all.
Yuliana Ivanova, who resigned as DKEVR Chair but will keep the post until a replacement is appointed, has stated for the offnews site that she had not spoken to Borisov, meaning she has learned from the media about his idea to reduce prices by 8%.
It was reported meanwhile that investors are selling in mass shares on the Bulgarian Stock Exchange and stocks of leading companies are crashing.
Musicians from the Bulgarian National Radio (BNR) have suspended all concert activities starting Friday, protesting what they describe as insufficient salaries.
A demonstration demanding the resignation of acting Prosecutor General Borislav Sarafov was held Wednesday evening outside the Palace of Justice in central Sofia
Dozens of citizens assembled Thursday evening outside the Palace of Justice in Sofia to express outrage over the latest appellate ruling in the 2021 murder of Evgenia Vladimirova
Citizens are planning a protest in response to the verdict in the murder case of Evgenia Vladimirova. The demonstration is scheduled for February 19 at 6:30 p.m., outside the Sofia Courthouse.
Vice President Iliana Yotova’s decision to nominate Bulgarian National Bank Deputy Governor Andrey Gyurov as acting prime minister triggered immediate and sharply divided reactions across the political spectrum
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Bulgargaz has submitted a proposal to raise the price of natural gas by 5.12% for April. Should the Energy and Water Regulatory Commission (EWRC) approve the request, the commodity would be sold at EUR 34.27 per megawatt-hour, excluding additional costs f
The Fiscal Council has assessed that a 25% surge in global oil prices would constitute a moderate external shock for Bulgaria, primarily impacting the economy through higher energy import costs, rising inflation, and a potential slowdown in external deman
Bulgaria’s state fuel reserves are sufficient to cover normal consumption for the next 90 days, but domestic fuel prices continue to climb amid the ongoing military conflict in the Middle East
Acting Prime Minister Andrey Gyurov highlighted the strategic importance of energy infrastructure for the European Union during a meeting in Paris with other European leaders, convened at the invitation of French President Emmanuel Macron.
Bulgaria is increasingly turning into a destination for motorists from neighboring countries seeking cheaper fuel, as turbulence on global oil markets linked to tensions in the Middle East continues to influence prices across the region.
The ongoing military conflict in the Middle East is expected to influence fuel prices in Bulgaria with a lag of approximately 7 to 14 days, potentially pushing inflation in the country up by around 0.6%, according to economist Assoc. Prof. Shteryo Nozharo
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