 approved an average increase of 8.42% in electricity prices for household consumers, effective January 1, 2025){kind=link}
In a closed session, Bulgaria’s Energy and Water Regulatory Commission (EWRC) approved an average increase of 8.42% in electricity prices for household consumers, effective January 1, 2025.
The adjustment, which varies slightly across electricity providers, was attributed to rising market prices and higher operational costs within the energy sector.
Customers of Electrohold will experience an 8.36% increase, while EVN and Energo Pro customers will see their bills rise by 8.39% and 8.55%, respectively. These adjustments include the costs for network services, as clarified by the regulatory body.
Drivers Behind the Increase
The EWRC outlined several factors influencing the decision, with a notable contributor being the sharp rise in the annual market price for base load electricity.
The projected price for the period from July 2024 to June 2025 increased by over 23%, climbing from 173.09 leva per megawatt-hour (MWh) to 212.12 leva/MWh.
This projection is based on data up to November 30, 2024, and anticipates further fluctuations in the remaining months leading to mid-2025.
Higher costs incurred by the public electricity supplier were another significant factor. The total electricity allocated for the regulated market increased to 927,000 MWh, with a considerable portion sourced from “TPP Maritsa Iztok 2” EAD.
This arrangement follows an order issued by the Minister of Energy to stabilize the electricity supply chain.
Additionally, rising natural gas prices necessitated adjustments to preferential electricity prices and premiums for combined heat and power producers.
The achieved and forecasted gas prices for the remaining months of the regulatory period are estimated to be over 17% higher than initial projections.
Heat Energy Prices Unchanged
While electricity prices will increase, the EWRC confirmed that the prices for heat energy will remain stable. This decision is expected to provide some relief for consumers who rely on district heating during Bulgaria’s cold winter months.
Public Discussion and Decision
The price adjustment follows a public discussion held on December 18, 2024, during which stakeholders were invited to present their opinions on the proposed changes.
EWRC Chairman Ivan Ivanov emphasized the regulatory body’s commitment to balancing interests across the energy supply chain.
“We aim to maintain fairness across all stages of the supply chain, from production to end consumption,” Ivanov stated, adding that the decision reflects the need to ensure sustainability in the energy sector while minimizing the burden on households.
Consumer Impact
The approved price increase has sparked concern among consumers, who already face rising costs of living. However, the EWRC noted that the adjustment is necessary to address escalating production and supply expenses, as well as to ensure a reliable energy supply.
As electricity bills rise at the start of the new year, households are likely to reassess energy usage to mitigate the impact of the higher costs.
The EWRC has assured consumers that it will continue monitoring market dynamics to ensure transparency and fairness in future pricing adjustments.