Electricity price for some small businesses may be between BGN 15 and 30 lower

The electricity for some small businesses will be cheaper by between BGN 15 and 30 from the beginning of November. However, an increase in household electricity prices is expected. This was announced at a joint press conference by the caretaker Minister of Energy, Andrey Zhivkov, and the Chairman of the Energy and Water Regulatory Commission (EWRC), Assoc. Prof. Ivan Ivanov.

The discount will be made for those businesses that have not yet chosen their electricity supplier and have had to buy the most expensive electricity possible. The energy regulator is also considering a plan on how to minimize the increase in the price of electricity for household consumers from the beginning of 2022.

The Chairman of the EWRC, Assoc. Prof. Ivan Ivanov, is hesitant to forecast of how much the price of electricity for households would increase from January 1 next year, but according to experts, the expected is would not be insignificant.

"I personally expect between 20% and 30%, but with these measures that are currently being planned, I think it is possible to be inr the range of 20%, no more," said the chairman of the Bulgarian Energy and Mining Forum, Ivan Hinovski.

The head of the energy watchdog imself promised the lowest possible increase.

"The Energy and Water Regulatory Commission is just beginning to look for measures in view of the huge increase in prices on the European continent not to be reflected in the same increase in the price for Bulgarian household consumers," said Assoc. Prof. Ivanov.

However, businesses will continue to pay for expensive electricity because they buy it from the open market. Kaloyan Petkov is the owner of a fast food restaurant in Rousse. He says, he does not rely on state aide for electricity, but on improving the environment.

"I don't want the state to help the business, they have to make sure that the business can work normally," he explained.

According to the Ministry of Energy, more than 600,000 companies have entered the open market since July this year, but other 250,000 have been designated to a supplier of last resort, where the price is by BGN 100 higher per megawatt-hour than on the power exchange.

"Our goal now is to target measures precisely to these small and medium-sized companies that have not yet found a supplier," commented Andrey Zhivkov.

Electricity prices for them will remain higher than for the rest of the business, but they will have three months to correct their omission and choose a supplier with more normal prices.

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