Electricity prices may fall as of July 1

“At this point, I can see no reason for raising electricity prices because we believe that, within the proceeds from prices approved by us, the electricity distribution companies may continue to operate. We may even expect a decrease of 1% or even a little more as of July 1,” Angel Semerdzhiev, Chairman of the State Energy and Water Regulatory Commission (SEWRC), said on Tuesday during an open session of the energy regulator.

“All reserves of the system were maximally used in order to have acceptable energy prices in the country. We have the lowest prices in terms of absolute value,” added Semerdzhiev.

“The demands of electricity distribution companies for raising electricity prices will probably not be satisfied. I do not remember a case when we have satisfied the demands of these companies in their initial version, so we will probably not satisfy them now. I am not familiar with their motives either. Of course, all companies will seek to raise prices in order to increase proceeds, specified Semerdzhiev.

“Unfortunately, we have a pressure on conventional power plants,” he added. According to him, they suffer losses because of photovoltaic plants.

“We believe they can compensate for these losses with more efficient operation and a reduction of costs. They are not interested in raising prices but in reducing them in order to sell their electricity. All over Europe, all power plants work, some of them even at a loss, just to sell their electricity,” commented Semerdzhiev.

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