Bulgaria, Spot electricity prices above 350 euros/MWh are unrealistic

, SEE Energy News

Bulgarian Minister of Energy Aleksandar Nikolov said that the sharp increase of the price of electricity, anticipated by the employers’ organizations, with prices of over 350 euros/MWh, is not a fact for the moment, as a response to demands to scrap the compensation cap of 30 % of the actual market price.

The nationally representative employers’ organizations said in an open letter that the measures proposed by the Government are ineffective in view of the situation with the prices of natural gas and electricity in economies which are competitors of Bulgaria. The scheme for electricity compensation for non-household consumers capped at 30 % of the market price renders meaningless promises that that businesses will be compensated with 75 % of the difference between the market price in July 2021(94.7 euros/MWh) and the actual market price for the respective month if the price is higher than 150 euros/MWh.