At the beginning of 2016 the government is determined to complete the liberalization process of the Bulgarian electricity market, stated the energy minister Temenujka Petkova. She attended the signing of a contract between Bulgarian Energy Holding (BEH) and World Bank for providing consultancy services. It is expected till the end of the year 2015 the whole financial situation of the Bulgarian energy sector to be revised and concrete measures for full liberalization of the electricity market to be highlighted.
Through this contract a proper liberalization model of the market will be selected. The World Bank takes the responsibility to issue an interim report till the end of November this year. Based on it the Bulgarian authorities are expected to choose final model for the liberalization of the market.
Minister Petkova noted that in November the companies should prepare to face amendments in the Energy Law, due to the need of legal framework for the liberalization.
It is decided that the Bulgarian energy exchange will be operated and monitored by the Ministry of finance, said minister Petkova. This option was recommended by the European commission as a necessary step for more transparency of the Bulgarian independent energy exchange. If the exchange was operated by the Energy ministry it is obvious that BEH will be in conflict of interest situation.
After the liberalization is complete the regulated market will be removed and the price of electricity will be determined only by market principles.
Source: Standard News