Higher energy and fuel prices are the reason for the expected price increase in the summer

Nearly half of the companies (47%) operating on the Bulgarian market intend to raise the price of their goods and services, if fuel and electricity prices increase in the summer, showed an express study conducted by the Bulgarian Chamber of Commerce and Industry (BCCI), commissioned by bTV. A substantial part of the companies (45%) intend to implement measures aimed at improving their energy efficiency. Some 43% of the members of BCCI were of the opinion that they will reduce their profits because of the higher energy prices and 9% of respondents declared that they will seek other sources of energy. Intentions for staff cuts and a reduction of business travels were announced by some 4% of the companies.

The managers surveyed by BCCI were split on the issue whether energy prices would rise over the coming summer. Some 38% expected a slight increase in energy prices. Meanwhile, 30% of the polled persons anticipated a substantial price surge. Nearly a quarter of the respondents (23%) believed that prices would remain unstable and would change in both directions. Only 2% thought that there would be no change in fuel and electricity prices. Almost all company managers (96%) stated that their energy expenditures had increased during the first quarter of 2012, compared to the corresponding quarter of 2010. The majority of BCCI members (87%) declared that energy prices had increased on an annual basis. Only 2% of the respondents indicated that their energy costs had dropped in the first quarter of 2012.


The calculations of the State Energy and Water Regulatory Commission showed an increase of about 10% in electricity prices and of 7-8% in the price of natural gas at the beginning of July. According to experts, however, the rates of the power plants remain a real challenge for the setting up of the prices for next year because they have to pay for carbon emission allowances. On the other hand, the share of electricity produced by renewable energy sources, which the National Electricity Company buys at higher prices, will increase.

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