Bulgarian Energy Watchdog Freezes Prices Pending New Law

Business » ENERGY | May 28, 2013, Tuesday // 15:43
Bulgarian Energy Watchdog Freezes Prices Pending New Law: Bulgarian Energy Watchdog Freezes Prices Pending New Law Evgenia Haritonova, Chair of the State Commission for Energy and Water Regulation (DKEVR), photo by BGN

The electricity bills will not go up from 1 July, the State Commission of Energy and Water Regulation (DKEVR) announced.

The new Cabinet will have to first accept amendments to the Energy Law that aim to regulate a new model of price formation and after that to possibly raise electricity bills, the DKEVR chair, Evgenia Haritonova, said.

Later on Wednesday the caretaker Minister of Economy, Energy, and Tourism, Asen Vasilev, is expected to present the concrete amendments to the Energy law which  the new government will propose for parliamentary approval.

The law amendments that aim to redistribute the energy cost so that  the burden does not fall upon the citizens, have been formed after the World Bank analyzed the weak points of the Bulgarian energetics.

According to the current law the energy price is set once a year and is enacted from 1 July, remaining in power for the next 12 months. At the end of May, DKEVR usually presents its own proposal of energy prices formation for mines, heat power stations, nuclear power plants, renewable energy sources, the National Energy Company, the energy system operator and the energy distributors - the Czech CEZ, the Austrian EVN and Energo-Pro.

The DKEVR estimated that its proposal will raise the energy price with 40%, but after reexamination by the commission the number fell to 16 %, Haritonova said. Today she commented that a "slight rise" may result from the law amendments.

The green energy costing BGN 1.2 B to the energy system, the National Energy Company obligation to buy energy from renewable sources, and the exit of firms form the system, which will have find energy suppliers on their own form 1 July, will affect the energy price formation for the final consumers.

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Tags: DKEVR, Evegenia Haritonova, caretaker, Minister of Economy, energy, and Tourism, asen vasilev, electricity bills, power distributors, World Bank, law amendments, green energy, CEZ, EVN, Energo-Pro
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