Price of electricity for household consumers will increase by an average of 8.42%

The Energy and Water Regulatory Commission (EWRC) has approved new electricity prices for households, as well as preferential prices and premiums for combined heat and power producers and renewable energy producers, effective from January 1.

EWRC has approved an average increase of 8.42% in electricity prices for household consumers:

For Elektrohold customers, prices will rise by 8.36%.
For EVN customers, by 8.39%.
For Energo-Pro customers, by 8.55%.

These prices include charges for network services.

The main reason for the price increase is the significant rise in the forecasted annual market price for base load electricity for the period July 1, 2024 – June 30, 2025, which increased from 173.09 BGN/MWh to 212.12 BGN/MWh, or more than 23%. This reflects the market price as of November 30, 2024, and the forecast for the remaining period until June 30, 2025. According to Article 31a, paragraph 2 of the Energy Act, EWRC is required to adjust the premiums for renewable energy producers when there is a significant change (over 15%) between the forecasted and achieved market prices for base load power during the regulatory period.

The increase in electricity prices for households is also due to higher costs for the public supplier due to increased electricity demand for the regulated market—amounting to 927,000 MWh. A significant portion of this electricity will be provided by Maritsa East 2 TPP, based on an order from the Minister of Energy.

Another factor influencing the change in preferential prices and premiums for combined heat and power producers is the need to adjust the natural gas price, which is over 17% higher than the initial forecast for the pricing period.

Heat energy prices remain unchanged.

The Energy and Water Regulatory Commission also approved the price of natural gas for January at 81.94 BGN/MWh, excluding access, transmission, excise, and VAT costs. This is the price at which public supplier Bulgargaz will sell natural gas to end suppliers and licensed heat energy producers and transmitters.