Bulgaria's Energy Watchdog Cuts Power Prices for Businesses

The Bulgarian energy regulator KEVR announced Sunday it was lowering a "duty to society" surcharge on power prices for industrial consumers.

New power rates are in force as of Sunday, November 1, 2015, Focus News Agency quotes KEVR head Ivan Ivanov as saying.

Under the new pricing regime, the "duty to society" surcharge will be 2.8% lower - BGN 36.83 instead of BGN 37.90/MW/h. The move suggests a slight decrease of power prices for businesses, after a hike entered into force this August.

KEVR's decision to increase the "duty to society" in August was met with anger by employers.

On Sunday, Ivanov explained the move had been allowed by a the drop in natural gas prices that also affected the cost of energy from plants using natural gas using co-generation to produce electricity.