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Almost 12% more Expensive Electricity for Businesses in Bulgaria

Business » ENERGY | October 17, 2022, Monday // 16:25

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Bulgaria: Almost 12% more Expensive Electricity for Businesses in Bulgaria

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Electricity was traded on the Bulgarian Independent Energy Exchange (BNEB) at an average price of BGN 419.68 (without VAT) per megawatt hour, according to trading data in the "Day Ahead" market segment after the close of the exchange, BTA reported. Deals are based on tomorrow's delivery day (October 18).

The energy exchange closed yesterday at an average price of BGN 376 per megawatt hour. This means that tomorrow's business electricity will be 11.62% more expensive than today's day-of-delivery price.

The average price of peak energy (09:00-20:00) is BGN 459.36 per megawatt hour. Off-peak energy (01:00-08:00; 21:00-24:00) was traded at an average of BGN 379.99 per megawatt hour.

The lowest price within today's session, with tomorrow's delivery day, is BGN 265.43 per megawatt hour, reached in the period 1:00-2:00 a.m., and the highest is BGN 657.16 per megawatt hour - for 7:00-8:00.

Data from BNEB show that a total of 55,759.20 megawatt hours of electricity were sold.

In the "Intraday" market segment, BNEB reports a total traded volume of 1,721.60 megawatt-hours in the 60-minute products so far. The weighted average daily price is BGN 320.21 (without VAT) per megawatt hour. In the 15-minute products, the weighted average price so far is BGN 347.44 (without VAT), and the total amount of electricity sold is 579.58 megawatt hours.

BTA recalls that the parliament accepted compensations for businesses due to high electricity prices with the state budget update for this year. They envisage the "Security of the Electricity System" Fund to compensate non-domestic end customers of electricity in the amount of 100 percent of the difference between the real average monthly exchange price of the "day-ahead" segment of "BNEB" EAD for the relevant month and the base price in the amount of BGN 250 per megawatt hour (MWh) for the period from July 1 to December 31, 2022. No compensation is paid for customers with prices below the base price of BGN 250/MWh. Customers with a price exceeding the basic price by a smaller amount than the amount of compensation are paid compensation in a reduced amount, so that the resulting price for the customer after compensation is not lower than BGN 250/MWh.