Electricity Price Hike Of 15% Likely For Half Bulgarians.

14.06.2002 Source: Novinite.com

Electricity bills will increase with an average of 15% for half of the Bulgarian population, starting July 1, Energy Minister Milko Kovachev, said. His statement followed syndicates’ reports on planned electricity and heating price hikes. According to monthly statistics of electricity transmission companies the electricity prices will remain unchanged for one fourth of the Bulgarians. The rise in the electricity prices will be 31% for no more than 7% of the population with the highest consumption of electricity. The differences follow the introduction of limits for electricity consumption during the day and during the night, under which limits prices will not be raised. Under the government program prices are to go up by another 15% next year and 10% starting 2004, so that the electricity prices for households may cover the expenses on its supply. Under the agreement with the International Monetary Fund the government is to increase electricity prices for households by 50% till end-2004. According to Minister Kovachev the electricity prices for households are higher than those for the industry because of thier higher supply expenses.