Energy Regulator Expected to Cut Electricity Prices by 6.2%-7.3%

Energy Regulator Expected to Cut Electricity Prices by 6.2%-7.3%

Bulgaria's energy regulator will hold a meeting on Monday to discuss a proposed cut by between 6.2% and 7.3% in household electricity prices effective as of March 5.

According to the proposed changes in the tariff, clients of Czech energy group CEZ will pay 7.2% lower bills. For clients of Czech utility Energo-pro the reduction will be 6.2%, while   Austrian utility EVN will charge its clients 7.3% less, data published on the energy regulator's website showed.

Last week parliament adopted amendments to the energy act which provided for a regular review of electricity prices, clearing the way to the proposed cut in the tariff. Prior to the legislative changes, electricity prices in the country were being updated once a year.

Before resigning a fortnight ago, prime minister Boiko Borisov suggested a series of measures which he said would bring down prices by 8.0%. These included reducing the energy distribution companies' regulator-approved costs and increasing the share of cheap electricity generated by the country's Kozloduy nuclear power plant in the energy mix, on the basis of which the bills of end-consumers are calculated.

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