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Financial contributions from traders and power producers to support end consumers

At the end of 2022, amendments to the Law on Implementation of the provisions of the State Budget Act came in force, obliging electricity producers and electricity traders to make financial contributions to the Security of the electricity system fund (SESF). The aim is to use the...

The draft energy strategy relies on new NPP, RES and HPPs

The Ministry of Energy (ME) published a draft energy strategy entitled Strategic vision for sustainable development of the electricity sector of the Republic of Bulgaria with a horizon till 2053. In it, the ME based its scenarios for the country’s energy development on two...

Production and consumption in 2022

In 2022, In Bulgaria was observed extremely high electricity production equal to 50.4 TWh. The generation structure was dominated by coal-fired thermal power plants, followed by the Kozloduy nuclear power plant and hydroelectric plants, with the percentage distribution by plant...

Gas agreement between Turkey and Bulgaria

The contract with the Turkish company Botaş is for infrastructure usage, for supply of liquefied natural gas (LNG) and is of strategic importance. This was said by the acting Minister of Energy Rosen Hristov during his hearing in the Committee on Energy in the National Assembly....

Kozloduy NPP waives penalties and pays compensations

According to a publication in Mediapool, Kozloduy NPP has refused to continue lawsuits filed by its previous management against four electricity traders associated with businessman Hristo Kovachki. The nuclear power plant claimed BGN 129 million due to unfulfilled electricity...

Founding of the first regional energy exchange

Slovenian and Serbian TSOs along with EPEX SPOT established the first regional power exchange for Central and South-Eastern Europe. Alpine-Adriatic Danube Power Exchange – ADEX was officially established on 23 December 2022 in Ljubljana via formal signature of its founding...

Overhauls of power plants in 2023

In 2023, the Bulgarian Kozloduy nuclear power plant will operate at a reduced capacity due to the overhaul of two units, which will last a total of 70 days. Also, TPP Marica Istok 2 is undergoing overhaul, and for a significantly longer period, while HPP Chaira will be offline...

Taxation of revenues of electricity traders and electricity producers

On December 1, Regulation (EU) 2022/1854 of the Council of the European Union on emergency intervention to address high energy prices entered into force. The regulation is mandatory and designed to impose supporting measures for consumers to tackle high energy prices. This...

Termination of Bulgarian natural gas release programme

The parliament adopted the waiver of the obligation of the state gas supplier Bulgargaz to sell part of its quantities of natural gas to the Balkan gas hub (local gas exchange) in order to provide liquidity to the state gas exchange and participate in the liberalization of the...

Outlook for the electricity market during the winter season

The article was published in the December issue of Utilities magazine. With the approach of the first cold weeks of November, consumption (Figure 1) and electricity prices went up. Whether this will continue in the coming months of the winter period remains to be seen. The...

Financial compensations to businesses for high electricity prices continue through 2023

The mechanism of financial compensation for non-household consumers in Bulgaria, including companies, hospitals, schools, administrative institutions, religious temples and others, will be extended until the end of 2023. This was decided by the members of the Parliament (MPs) on...

Guarantees of origin prices soar

On 20 September, Hungarian energy exchange HUPX organized the first guarantees of origin (GO) auction in Europe, where all market participants active in any AIB member had the opportunity to sell GOs. The first pan-European GO market then hold monthly auctions, the second auction...

Development of the network and generation capacities in Bulgaria for the next 10 years

In its ten-year network development plan, the Electricity System Operator (ESO) foresees an insignificant change of gross electricity consumption in Bulgaria. The ESO considers three consumption scenarios presented in the figure below: The scenario of the integrated national...

Comparison of electricity prices and wages in the region

Hungary, where the average salary is 885 euros the price of electricity per kilowatt hour is 9.48 euro cents. However, there are countries in the region with lower incomes, but at the same time with higher electricity bills. For example, it is Bosnia and Herzegovina, where the...

Compensation program for all business consumers till the end of 2022

At its last meeting, the Council of Ministers approved the new program for compensating the costs of electricity for non-household end consumers, as well as network operators for purchasing electricity to cover technological losses. The two programs cover the period from...

IGB started commercial exploitation

The President of the EC and heads of state welcomed the first quantities of natural gas delivered through the interconnector Greece – Bulgaria (IGB) during an official event in Sofia; the gas pipeline became operational on the first day of the new gas year – October 1, 2022. The...

On 1st of October launch the 15-minute settlement period

The implementation of the 15-minute settlement period in the balancing market started today, October 1st. Until now, the settlement period was 1 hour. The introduction of a settlement period of 15 minutes is in accordance with Regulation (EU) 2017/2195 of 23.11.2017 and is a...

EC adopts mandatory measures to address the energy crisis

EU energy ministers reached a political agreement on a regulation on an emergency intervention to address high electricity prices. The regulation will be formally adopted by written procedure in the coming days. The European commission (EC) decides to intervene because gas and...

New balancing model as a result of amendments in the electricity trading rules

This article is published in the September issue of Utilities magazine. At the beginning of September, it is expected that the new Electricity Trading Rules (ETR) will come in force and will be applied at the beginning of October. The changes in ETR, which were proposed by the...

The energy exchange pays a 7.8 million dividends to the stock exchange

Independent Bulgarian Energy Exchange EAD (IBEX) will distribute its entire profit for 2021 in the amount of BGN 7.8 million as a dividend to its sole owner – the Bulgarian Stock Exchange AD (BSE). This was decided by the board of directors of BSE, which accepted the...

15-minute settlement period is scheduled to start on October 1st

According to the agreement between EWRC, ESO and IBEX, the actual implementation of the 15-minute settlement period on balancing market is expected to start on October 1, 2022. According to ESO, the operator was ready with its introduction already on July 1 this year. The delay...

Proposed amendments in the market and power exchange rules

The Energy and water regulatory commission (EWRC) held public discussions on draft rules for amending and supplementing the Electricity trading rules /ETR/ and the Operation rules of IBEX (power exchange rules). The amendments to the Electricity Trading Rules introduce a number...

New program compensating business consumers

At its last meeting, the Council of Ministers approved the new program for compensating the costs of electricity for non-household end consumers, as well as network operators for purchasing electricity to cover technological losses. The two programs cover the period from...

Ivan Ivanov is again acting chairman of EWRC

On 21.07.2022, the Constitutional Court (CC) ruled on a decision in constitutional case No. 4/2022, declaring unconstitutional the Decision of the National Assembly of 9 February 2022 on the election of the Chairman of the Energy and Water Regulatory Commission (EWRC). With this...

The largest energy companies in 2021

An article published in Capital provides an overview of the financial results of the largest energy companies in Bulgaria. The article is part of the ranking “K100: The largest companies in Bulgaria.” The turnover of the top 35 energy companies doubles to 27.5 billion...

Bulgargaz announced required quantities

At its meeting, the Energy and water regulatory commission (EWRC) adopted a decision by which it urgently demanded information from the state-owned companies regarding the measures they are undertaking to prevent a crisis with natural gas supplies during the winter season. The...

Q1 2022 EU electricity market report

The Quarterly report on European electricity markets prepared by the Market Observatory for Energy of the European Commission aims at enhancing public access to information about prices of electricity in the Member States of the European Union. The first quarter of 2022 was...

SAC canceled the disputed requirement for issuing a permit for water abstraction

The Supreme Administrative Court (SAC) annulled texts from the Ordinance on the use of surface water, adopted by the Council of Ministers on March 23 last year, which oblige the owners of hydropower plants to present a document for an established right of construction when...

Changes in the energy legislation

This Tuesday (07/05/2022) the changes to the State Budget Act were promulgated and entered into force. They envisage that all non-household consumer will pay a price of 250 BGN /MWh for electricity until the end of 2022. The difference between the monthly spot prices and 250 BGN...

Price decision of the EWRC for 2022/2023

On 01.0.2022 the final price decision was published by the Energy and Water Regulatory Commission (EWRC) for the period 2022/2023. EWRC determines estimated market price of 430.94 BGN / MWh. The data used by the commission for its calculations is based on the long-term auctions...