Electricity market

The President's Office has announced a public procurement procedure to be supplied with electricity, its press service has said.

The aim is to become part of the free electricity market in a year when Bulgaria is committed to large-scale liberalization.

Electricity prices at the newly set up Independent Bulgarian Energy Exchange (IBEX) are at surprisingly low levels, just two days after IBEX started "real" trade, an electricity traders' union has warned.

The prices demanded for electricity at IBEX have been below BGN 50 (EUR 25) per MWh since the one-month trial period ended earlier this week.

After more than a month in trial mode, the Independent Bulgarian Energy Exchange (IBEX) begins trading electricity on Tuesday, its CEO has said.

As many as 17 companies can take part in the first "real" session of IBEX, out of 25 that have submitted requests to do so.

Vulnerable energy consumers amount to 30 percent - or nearly a third - of the Bulgarian population, the country's Energy Minister has said.

Attending a workgroup in Brussels dedicated to energy poverty, Temenuzhka Petkova has explained changes will be brought to the model determining which consumers are vulnerable.

Bulgarian Energy Minister Temenuzhka Petkova foresees no increase in the price of electricity at least until the summer.

The price will remain at the level determined by the Energy and Water Regulatory Commission (KEVR) until the next planned review of prices in the summer.

Bulgaria's energy legislation needs urgent amendments early next year amid steps to liberalize the energy market, the chief of the energy watchdog has said.

Ivan Ivanov, who heads the country's Commission for Energy and Water Regulation (KEVR), has made his comments during a hearing in Parliament, ahead of the first test launch of the energy exchange in Sofia.

A trial launch of the Independent Bulgarian Energy Exchange (IBEX) is expected to take place on Friday.

The aim of the exchange is to ensure that electricity will be sold and purchased at prices determined by the market.

The European Commission has decided to render legally binding the commitments offered by the Bulgarian Energy Holding (BEH) to end competition restrictions on the country's wholesale electricity market.

"For too long Bulgaria and other countries of the region have been concentrating on large scale pipeline projects such as South Stream and have left behind the development of important regional infrastructure, notably interconnections with neighbouring countries," Klaus-Dieter Borchardt, Director Internal Energy Market at the European Commission's Directorate-General for Energy

Hellenic Post (ELTA) announced plans to expand its business activities in the energy market.

Costis Melahrinos, chairman and chief executive of Hellenic Post, told reporters that ELTA will begin selling electric power in December.