Energy regulator launches a check in the electricity power exchange

The state will start a check on the Bulgarian Electricity Power Exchange after complaints from associations about the drastic differences in electricity prices, the chair of the Energy and Water Regulatory Commission (EWRC) Ivan Ivanov said after a meeting on 4^th of October.

He announced that for the first time his office will use the latest amendments to the law on energy, which give the right to check the wholesale electricity market. This in practice means that the check will be conducted in the Bulgarian Independent Energy Exchange, at which the country’s largest power plants sell electricity, including Kozloduy NPP, Maritsa East 2 TPP, renewable energy sources, as well as US-owned power plants.

According to Ivan Ivanov, currently prices are frequently hopping, for which businesses, one of the largest business associations in Bulgaria and the traders alerted. In their words, it is not logical at the moment that electricity costs BGN 200 per megawatt hour for a day ahead. Ivanov also announced that the price is, in his words, too high and is BGN 150 per megawatt hour and that is only the base price.

Ivan Ivanov: Within the preliminary study, officials, members of the working group should collect all data from the Bulgarian Independent Energy Exchange, participants at the stock exchange, as well as others, it is considered necessary to ask them for data. The study should be completed with a report for the consideration of the Energy and Water Regulatory Commission.

The first results from the check are expected to be completed within four months.