Head of utilities regulator predicts a 14% decrease in the price of natural gas in Bulgaria for April

A reduction of 14.3% for the price of natural gas in April is expected, as stated by the new Chairman of the Energy and Water Regulatory Commission (EWRC), Plamen Mladenovski, in his first television interview on April 1. The final decision by the regulator is expected later this afternoon.

Mladenovski highlighted ensuring consumer interests and transparency in decision-making as key priorities in his work.

The first challenge for the new EWRC is to set the gas price for April.

Plamen Mladenovski, Chairman of EWRC: "It's good that we're starting with a price reduction. It’s expected that after this afternoon's meeting, the gas price will be reduced by 14.3%, which is great news both for household consumers and for Bulgarian businesses. This provides a competitive advantage to Bulgarian businesses, as the natural gas price in Bulgaria is lower than the regional level."

A key priority for the Commission will be the forthcoming liberalisation of the electricity market for household consumers. The decision should be taken on 1 July.

Plamen Mladenovski, Chairman of EWRC: "Whether the liberalization will happen or not – that decision needs to be made by the National Assembly. We are ready to respond to any scenario – whether it is an extension of the regulated market for a few more years, or a decision for liberalisation. The main challenge is to keep prices at their current levels while ensuring the financial stability of the 'Electricity System Security Fund' and the liquidity of the final suppliers."

Mladenovski assured that people's interests will be guaranteed.

Plamen Mladenovski, Chairman of EWRC: "Regardless of whether we continue with a regulated market or the market is liberalized, consumers should remain calm. There will be no significant change in their bills."

The new EWRC will rely on transparency and dynamism in its work, Mladenovski assured.

Plamen Mladenovski, Chairman of EWRC: "Evidence of this is the fact that the price requests we have received are already published on the Commission’s website, and we will continue to publish any new ones that come in."

In addition to the Chairman, new members of the regulator are Aleksandra Bogoslovska and Tasko Ermenkov.