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Bulgarian Businesses Grapple with 12% Surge in Electricity Prices
Electricity costs for Bulgarian businesses soared by approximately 12% as Monday's trading on the Independent Bulgarian Energy Exchange (IBEX) closed, setting the stage for a steeper bill on Tuesday, January 9.
Bulgaria: Electricity and Heating will become more Expensive starting tomorrow
The Energy and Water Regulatory Commission approved the new electricity and heating prices starting from July 1.
On average, the price of electricity for household consumers increases by 4.37 percent. An increase of 4.24% is foreseen for "Electrohold", for EVN - by 3.78%, and for customers of "Energo Pro" - by 5.43%. These prices include the prices for network services.
"Bulgargaz" offers more than 8% Cheaper Gas for May
"Bulgargaz" offered BGN 90.10/MWh price of the blue fuel for May. The company specifies that it is 8.21% lower than the one confirmed for April.
BGN 74.59/MWh is the estimated gas price for June. It is 17.21% lower than the one submitted for approval for May, according to Bulgargaz.
Power rates Europe’s highest
Greece remained among the most expensive wholesale electricity markets in Europe in 2022, a year when the average price of electricity increased by 141% compared to 2021.
In the same year, the cost of natural gas imports more than doubled compared to 2021, while it almost quintupled compared to 2018.
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Electricity rate even lower on Thursday
The price of wholesale electricity will drop to 58.44 euros per megawatt-hour on Thursday at the Hellenic Energy Exchange, it was reported on Wednesday.
This rate is 33% lower than Wednesday's set rate, a continuous reduction since wholesale electricity prices dropped 75% last Saturday, that is from €233.81/MWh to €58.55/MWh.
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Power rate below 100 euros/MWh for the first time since summer 2021
Wholesale electricity prices have fallen below 100 euros per megawatt-hour in Greece for the first time in nearly 18 months.
The electricity rate for Wednesday has been set at €86.77/MWh in the Greek Energy Exchange, falling below the €100 barrier for the first time since August 2021.
Why Greece still has costly power rates
For the second week in a row, Greece stands on the European map of wholesale electricity markets as the only country that does not reflect the significant de-escalation of the gas price at the Dutch TTF hub, which has returned to the levels before the Russian invasion of Ukraine.
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Spot electricity price double from two weeks ago
The average spot electricity price on the OPCOM energy exchange hit on Monday 245 lei per MWh, twice as high as the 112 lei per MWh recorded two weeks ago, the exchange operator announced on its website.
At peak demand between 9:00 and 22:00 hrs, electricity due for delivery on Monday May 21 is priced at an average of 277 lei per MWh, with a high of 343 lei at 21:00 hrs.
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