Regulatory Authority Expects Electricity Price Drops following Legislative Revisions

Regulatory Authority Expects Electricity Price Drops following Legislative Revisions

The tabled revisions to the Energy Act should lead to a reduction of the electric power prices proposed in advance in the draft decision of the Energy and Water Regulatory Commission (EWRC), the Chairman of the authority, Ivan Ivanov, told journalists Wednesday.
If there is any change of the prices in comparison to what has been offered, that will be downwards and EWRC, as a regulator, will not only appreciate both the proposals made but also the fact that such a reduction of the price would be good for the authority. 
Late on Tuesday the motions for revisions to the Energy Act were tabled by GERB MPs. They will be discussed on Thursday at an extraordinary joint meeting of the Energy Committee and the Ad Hoc Enquiry Committee to Assess the State of the Energy Sector. 
The revisions provide for the establishment of an Electric Power System Security Fund, which will collect contributions from all energy producer enterprises to the amount of five per cent of the monthly revenue from electricity sales, VAT excluded. The fund will have to compensate the shortage of the public supplier to buy out energy from the "green" power plants, cogeneration and American TPPs. It will also collect funds from the sale of greenhouse gas sales. The Council of Ministers will determine the organization and operation of the fund, as well as the spending and control of funds in it, by adopting a special ordinance. 
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