Liberalization leads to power price increases

Energy minister Temenuzhka Petkova stated the forthcoming energy market opening in Bulgaria is likely to lead to higher tariffs for electricity, Novinite agency reported.

In an interview with the Bulgarian National Radio (BNR), she said the power price hike could be expected immediately after liberalization in the beginning of next year. Petkova didn’t give any figures, underscoring that the cost is to be determined by the market. She said it isn’t possible to forecast what the price of electricity will be after full liberalization.

Soon after the market is opened, there is a trend of slight increase of electricity prices, followed by a decrease, the article said, citing international data. Petkova explained that the full liberalization of the electricity market will take place gradually throughout next year as had been recommended by the World Bank.