SEWRC threatens with a 10% increase in electricity prices in case of a long strike of miners

“If the strike of the miners at the Maritsa Iztok Mines continues for more than a month, this will lead to at least 10% increase in electricity prices as of July 1, 2012,” Angel Semerdjev, Chairman of the State Energy and Water Regulatory Commission (SEWRC), warned today. According to him, thermoelectric power plants have coal reserves for two or three weeks and afterwards, they will have to slow down the speed of their operation, stop work or supply coal from other mines. In order to avoid electricity problems, the cold reserve of Varna TPP and Bobov Dol TPP will be used, but electricity from these plants is considerably more expensive. This will increase the costs of the National Electric Company (NEK) for purchase of electricity and will raise consumer electricity bills as of July. NEK has already demanded some 4.5% hike of electricity prices before July 1. The reason is the company bears losses from the purchase of electricity from renewable energy sources.

“If the miners’ strike lasts less than a week or two, prices may remain unchanged,” stated Semerdjiev. In case of a longer strike, it would be difficult for the entire system of electricity generation to go back to its usual rhythm.

In addition to the strike, the price increase of electricity as of July will be due to the purchase of larger quantities of green energy and the launch of trade in harmful emissions from TPPs. Thus, consumers may have to pay 15% higher electricity bills as of the middle of 2012.

Semerdjiev refused to specify the preliminary estimates of the price hike based on all factors. However, he explained that the electricity market in the region was developing in the direction of increasing prices which means higher proceeds from the export of electricity.

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