Bulgarian Factories Prepare to Shut Down as Electricity Prices Hit Record Peak

Employers are starting a phasing out of production facilities, as of 00.00 am on August 4, 2021 and remain on alert. This is stated in a declaration of the Association of Bulgarian Employers' Organizations (AOBR).

They insist that the state-owned company TPP "Maritsa East 2" EAD start operating at full capacity. They want and temporary restriction on electricity exports. It is noted that Greece has already taken such action regarding its cross-border exchange capacity with Italy.

 They expect their requests to be met through the operational capabilities of institutions, such as the Ministry of Energy, Bulgarian Energy Holding EAD, Electricity System Operator EAD and in coordination with the regulatory authorities.

According to them, the responsible institutions cannot cope with the situation and therefore recommend the caretaker Prime Minister to demand immediate resignations and provide resources, including human resources, to provide enough energy for the normal functioning of the Bulgarian economy.

The motives of the employers are that on the electricity market in Bulgaria it is difficult to plan the price and the quantities and the uncertainty is mostly provoked by limited supply. 

They explain that from August 1, 2021. the situation is deteriorating and creating a problem for the competitive positions of companies and especially for industrial consumers.

The average base price of  electricity market "day ahead" according to "Bulgarian Independent Energy Exchange" EAD for the period is 130.95 Euro / MWh, and for tomorrow, August 4, 2021 is 169.10 Euro / MWh, (in the afternoon crossing the limit of 200 Euro / MWh).

Electricity prices in Bulgaria for the period exceed those of the main export markets of Bulgarian...

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