Bulgaria utilities regulator cuts gas, heating prices; electricity prices unchanged

Written by on April 1, 2020 in Bulgaria - Comments Off on Bulgaria utilities regulator cuts gas, heating prices; electricity prices unchanged

Bulgaria’s Energy and Water Regulatory Commission (EWRC) said that electricity prices will remain unchanged, while the natural gas price will be cut by 42.8 per cent, triggering a reduction in central heating prices starting April 1.

The lower gas price was a result of the amended terms of the contract with Russia’s Gazprom, agreed in March. This has resulted in an average decrease of heating prices of 21.8 per cent.

Consumers in Sofia will see the largest decrease in their heating bills, by 26.5 per cent, although that change will only affect the tail end of the current winter heating season. Prices in Plovdiv will go down by 12.1 per cent and in Bourgas by 17.3 per cent, while Varna would see the lowest price cut, of 8.3 per cent.

The regulator said that it assessed the impact of the lower gas prices on electricity generation costs, concluding that the savings would offset by the purchase of additional electricity from the state-owned Maritsa Iztok 2 coal power plant in February-June. As a result, EWRC said it decided not make any change to the current electricity rates.

(Photo: Jayesh Nair)

Comments

comments

About the Author

The Sofia Globe - the Sofia-based fully independent English-language news and features website, covering Bulgaria, the Balkans and the EU. Sign up to subscribe to sofiaglobe.com's daily bulletin through the form on our homepage. https://www.patreon.com/user?u=32709292