Ivan Ivanov: The increase in electricity and heating prices will be less than the increase in inflation

Energy / Bulgaria
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“Consumers can rest easy. Indeed, there is a dynamic in the prices of electricity and natural gas, but this dynamic sometimes leads to some slight increase, given the short period until June 30, but it can also lead to a decrease in prices. This was stated by the chairman of the Commission for Energy and Water Regulation (EWRC), Ivan Ivanov, after the end of the public discussion of prices in the "Electricity" sector.

"We ourselves cannot tell you in the next two weeks how the prices will change", he clarified and added that "in any case, the deviations in the prices of both electricity and heat energy will be quite acceptable" and under two the percentage. At the same time, he reminded that the announced preliminary increase is 1.39%, but it varies for the three electricity distribution companies. The price increase, as expressed by the chairman of the energy regulator, is according to the companies themselves - networks, consumers, energy they consume and other factors, "so the average increase will be within these limits".

As previously announced by EWRC, preliminary calculations for a regulated market are for an average price increase for end users of "Electrohold" by 2.74%, at EVN - by 1.46%, at "Energo-Pro" - by 0, 90 percent and "Golden Sands" - with 0.25 percent.

Ivan Ivanov reminded that "never before, at least in the 10 years since I have been in EWRC, has the increase in the price of electricity been so small." In this regard, he gave an example of the last two years - an increase of 4.7% last year, and the year before - by 4.3%. "This increase is significantly less than annual inflation. In essence, our decision on energy and the price of thermal energy are anti-inflationary factors that support Bulgaria on its way to entering the Eurozone," concluded Ivan Ivanov.

Meanwhile, while almost all companies from the electricity sector participated in the open meeting, there were no attendees at the public discussion, including via video link. Whether this means that the energy companies are in full agreement with the report of the EWRC working group published on June 11 remains unclear. We must remind that during the public discussion the representatives of the companies shared a large part of their problems, including the concerns about the price dynamics. There is, however, a fairly comprehensive analysis in the task force report from which some answers can be drawn.

Companies now have 14 days to submit their comments, which will be answered in the energy regulator's explanatory note. EWRC must issue a final decision on electricity and heat prices by June 30. The new pricing period begins on July 1, 2024.

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