On 3 July 2019, the price of electricity on the free-market in the “day ahead” segment reached 195 BGN/MWh for basic energy and 246 BGN/MWh for peak energy, at an indicative price determined by the Energy and Water Regulatory Commission (EWRC) of 89 BGN/MWh. The Bulgarian industry is forced to pay the highest price for electricity across Europe. This leads to a loss of competitiveness and undermines its ability to secure growth in the economy.
High electricity prices raise serious doubts about poor governance and negligence in the electricity sector. The free electricity market can not mean “free fall”. For years the Bulgarian Stock Exchange suffers from a lack of trust. Today this is also happening with the Independent Bulgarian Energy Exchange (IBEX).
The increased demand for the “day ahead” segment is not offset by increased supply, which raises the question of inadequate power system management. The existing uncertainty and price unpredictability due to the lack of electricity supply necessitate an urgent implementation of open procedures for the sale of long-term products by Bulgarian Energy Holding (BEH) companies.
Urgent recovery of liquidity on the free market is also needed by securing import capacities without restrictions through intraday supplies as well as for the “day ahead” segment.