Electricity for households may increase by an average of 9% from January 1

The average weighted change in electricity prices for various companies in Bulgaria may be increased by 8.99% from January 1, 2025. This is stated in a report by the "Electric Power and Thermal Power" and "Legal" directorates of the KEWR, referring to a decision of the Commission dated June 30, 2024, BTA reported.

The report states that for "Electrohold Sales" prices are increasing by 8.92 percent, for "EVN Bulgaria Electricity Supply" - 8.96 percent, for "ENERGO-PRO Sales" - 9.15 percent, and for "ESP Golden Sands" 7.83 percent. These changes correspond to market trends and reflect the complex influence of factors such as demand, production costs and regulatory requirements.

The EWRC was notified by energy companies of objective factors that occurred during the current price period, which caused an increase in the cost of electricity, the report also says.

In a letter dated November 28, 2024, "National Electricity Company" (NEK) informed the EWRC that for the period July-November 2024, the excess amounts of electricity from end suppliers exceeded by 500 gigawatt hours (GWh) or 11.5 percent those set in the decision from the middle of this year. It is expected that the consumption of end suppliers will continue to be higher than set in the decision, especially during the winter months, when household consumers traditionally increase consumption. According to forecasts, the additional quantities may reach up to 750 GWh, and in case of unfavorable developments and a higher deviation - up to 940 GWh.

NEK indicates that the possibilities for providing additional quantities of electricity are limited due to the expiration of the contract with "ContourGlobal Maritsa East 3", the increased accident rate of "AES - 3S Maritsa East 1" and the increased requests from "THPP Maritsa East 2", which will lead to an earlier exhaustion of the quota set for the plant.

At the same time, the reduction of water reserves in the dams managed by NEK is putting additional pressure on the production from the hydroelectric power plant. Data for 2024 show 43% lower water holdings compared to the previous four years. The expected production from hydropower plants is around 1808 GWh, which is significantly below the target of 3048 GWh. This increase in the cost of energy from hydropower plants - from 90.78 BGN per megawatt hour (MWh) to the projected 144 BGN per MWh - further determines the need to review pricing decisions, the KEWR report also states.

NEK notes that these factors significantly limit the possibilities for flexible resource management and require urgent measures to ensure reliable electricity supply during the winter period.

In view of all this, KEWR announced that an open meeting will be held on December 18 to discuss the report related to the change in electricity prices, approved by a decision of June 30, 2024. of the Energy and Water Regulatory Commission.

The Energy and Water Regulatory Commission also presented a draft decision to amend the electricity prices approved on June 30, 2024, with the new prices to come into force on January 1, 2025.

A day earlier, Acting Minister of Energy Vladimir Malinov noted during a hearing in parliament that it is possible that the price of electricity will increase during the current heating season, but he did not commit to a specific forecast.

Yesterday, Malinov told the people's representatives that there will be no electricity regime and that everything possible is being done to avoid "shocking" increases in the price of electricity for households.