Bulgaria’s parliament decided to freeze the prices of electricity, heating and water for households until the end of March 2022 in an attempt to alleviate the pressure of rising energy bills during winter months.
Earlier this week, the Energy and Water Regulatory Commission proposed an 11.5 percent increase of regulated electricity prices on average and an average 12.8 percent hike of heating prices as of January 1, 2022.
The state-owned Electricity System Operator together with power distributors CEZ Bulgaria, EVN Bulgaria, and Energo-Pro Varna said that the parliament’s approval of a moratorium on power price hikes until the end of March can lead to a collapse of the entire energy system and Bulgaria’s economy. The power distributors have been experiencing liquidity shortages since September due to the steep rise in prices on the energy exchange, where they are purchasing electricity at market prices to cover their technological costs.
