Electricity

Massive hike in electricity prices prompts state measures in Bulgaria

Photo: Bulgarian Ministry of Energy

Published

January 17, 2019

Country

Comments

0

Share

Published:

January 17, 2019

Country:

Comments:

0

Share

Three subsidiaries of state-owned power utility Bulgarian Energy Holding EAD (BEH) will provide an additional amount of electricity on the day-ahead market (DAM) of the  Independent Bulgarian Energy Exchange (IBEX) in order to stabilize the market. According to local media, the DAM prices increased 50% in December 2018  compared to December 2017, skyrocketing 200% year-on-year in January 2019.

The Maritsa East 2 thermal power plant (TPP), the Kozloduy nuclear power plant and National Electricity Company (NEK) now supply 690 MWh, and from January 19, the quantities will increase to over 700 MWh.

This is one of the measures agreed at a meeting between Energy Minister Temenuzhka Petkova, Energy and Water Regulatory Commission (KEVR) president Ivan Ivanov, managers of the public power utilities, the transmission system operator, and power distribution companies.

After the meeting, Petkova said that securing additional quantities for the day-ahead market will increase liquidity and predictability in trading on IBEX.

The IBEX DAM price this week is varying from BGN 141 per MWh to BGN 210 per MWh (EUR 72 per MWh – EUR 107 per MWh). In the same period last year, the prices were in the range of BGN 75 to BGEN 97 (EUR 38 – EUR 49).

As a second measure, it was agreed to analyze the introduction of new products on IBEX, which will be proposed by power supply companies, while market coupling with neighboring countries is seen as a third measure.

IBEX CEO Konstantin Konstantinov said that talks on coupling are being conducted with all neighboring countries, with most progress so far achieved with Macedonia and Romania.

Inspections at power supply companies

A week before the meeting, employers and government representatives called for urgent measures to ease tensions on the electricity market and in industry, Bulgarian news agency BTA reported.

Employers and government representatives cite the monopoly of state electricity production companies, market operations of the power supply companies, and fees for the domestic sale of electricity as the source of major distortions on the market.

A few days before the measures were announced, the Ministry of Energy and KEVR decided to start joint inspections of three power supply companies – CEZ, EVN, and Energo Pro.

According to KEVR’s press release, the technical condition of the equipment and electricity meters and licensing procedures will be checked. The goal is to see if companies deliver the service paid by the consumers.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment

Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Bulgaria hints possible closure all coal-fired power plants mid 2025 Maritsa East

Bulgaria hints at possible closure of all coal-fired power plants by mid-2025

02 August 2021 - The current version of the National Recovery and Resilience Plan may lead to a rapid coal exit in Bulgaria as the Maritsa East complex would be shut down

Serbia EMS consultant EUR 59 million overhead power line

Serbia’s EMS seeks consultant for EUR 59 million overhead power line project

30 July 2021 - EMS will pick a consulting firm for the construction of a double circuit 400 kV overhead transmission line between Obrenovac and Bajina Bašta

croatia recovery resilience plan rimac ina

Croatia’s recovery and resilience plan: EUR 200 million for Rimac autonomous taxis

30 July 2021 - The country earmarked EUR 200 million from its recovery and resilience plan for Rimac's urban mobility ecosystem with electric autonomous taxis.

Bajgora wind park Kosovo linked grid overhead line

Bajgora wind park in Kosovo* linked to grid with 20-kilometer overhead line

29 July 2021 - KOSTT energized the 110 kV high-voltage line between substation Vushtrri 1 and wind power plant Bajgora of 105 MW, which is under construction