Renewable energy law

As power suppliers prepare to present on Tuesday their October tariffs, Kathimerini reveals that every other euro consumers pay to electricity companies goes to third parties for a host of other fees and charges.

Down nearly 9% is the average megawatt-hour price for September, showing signs of easing after a quarter of strong price increases that forced the government to pull subsidies for electricity out of the drawer.

At 1.6 cents per kilowatt hour, the extraordinary support on electricity bills for August consumption is set at 1.6 cents per kilowatt hour, the Ministry of Environment and Energy announced.

Thus, the final price for the majority of consumers (which depends on the tariff of each provider) is formed below 15 cents per kilowatt hour.

The amendment imposing a special levy on natural gas power plants, which is set at 10 euros per megawatt-hour, has been submitted to Parliament.

Revenues from the special levy will be used to fund a subsidy on household electricity tariffs in August, the amount of which will be finalized by the end of the week, to keep final consumer prices close to 15 cents per kilowatt-hour.

Public Power Corporation's green tariff for July rose 14% compared to June, versus a 22% increase in the wholesale price of electricity during the same period.

For July, the Public Power Corporation (PPC) is offering the second-largest discount since the introduction of special tariffs earlier this year, keeping green electricity rates low for most consumers. The PPC’s 31% discount absorbs a significant portion of June’s 22% increase in wholesale prices, resulting in a household electricity rate of 0.1355 euros per kilowatt-hour.

The Bulgarian Energy and Water Regulatory Commission (EWRC) anticipates an average electricity price increase of 1.34% starting July 1, while the price of hot water and heating is expected to decrease by an average of 8.44%. Final decisions will be made at the end of the month, with an open meeting scheduled for next week to discuss these forecasts.

June is seeing major hikes in the "green" electricity rates, after the wholesale price jumped in May to 81.08 euros per megawatt-hour from €60.11/MWh in April.

The Residential Night Rate for electricity for the summer period starts on Wednesday and will last until October 31.

The summer schedule for the residential nighttime tariff provides reduced rates between 11 p.m. and 7 a.m. 

Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability. According to the report released on Thursday, Bulgaria secured the title of having the EU's second-lowest household electricity prices in the second half of 2023, trailing only behind Hungary.