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The inscription reading "State Commission on Energy and Water Regulation" (DKEVR) is seen here after being pelted with eggs on September 25, when an angry member of a civic movement tried to hit DKEVR's head SvetlaTodorova. Photo by BGNES
A final decision is expected Tuesday at the state energy regulator DKEVR about the price hike in electricity to be enforced on October 1.
The increase is likely to be of 10 percent, according to preliminary estimates and also to numerous statements recently made by DKEVR officials.
Huge deficits at the state-owned National Electricity Company (NEK), running at BGN 1 B loss as of 2014, are to be addressed with the hike.
State Commission for Energy and Water Regulation (DKEVR)'s head Svetla Todorova has called any increase exceeding 10% "socially unacceptable".
Incomes from the new prices are expected to pump BGN 140 M into NEK, DKEVR data quoted by website Dariknews.bg
The watchdog has made clear pushing bills up is just one of the many measures expected to help the energy sector back on its feet.
Interim Economy Minister confirmed earlier in September the national company is also facing debts standing at BGN 3 B.
The issue of soaring energy prices is potentially explosive in Bulgaria. Conservative GERB resigned following days of protests against a hike in February 2013.
Last week DKEVR angry citizens and civil activists pelted DKEVR members with eggs over what they describe as the regulator's adherence to a political line, and new protests over the increase are expected later on Tuesday.
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Between 2022 and 2026, Bulgaria provided humanitarian and technical energy assistance to Ukraine, according to the Ministry of Energy.
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.
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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