Renewable energy economy

Estimates for a decline in electricity prices were have been confirmed by the providers, who have announced the green tariff charges for February consumption.

The price per kilowatt-hour is down on average to 13.3 cents, 11% below the corresponding price in January (14.7 cents), with the price range for February ranging from 11.9 to 14.6 cents against 13.6 to 17.1 cents in January.

"Green" power tariffs will range between 13.6 and 17 cents per kilowatt-hour in January, according to the announcements of electricity suppliers. 

The time to choose colored electricity tariffs has arrived and consumers will be pleasantly surprised, since the prices across the range of rates are lower than what they have been paying until now with subsidies.

The time to choose the right electricity rate has come, and the universe seems to have conspired with consumers and supported the efforts of the minister of environment and energy, Thodoros Skylakakis, to reduce prices.

As consumers struggle to find which set of power rates is ideal for them out of the "green," "blue," "yellow" and "orange" categories to be introduced from January 1, blue tariffs appear to be beating the green and yellow floating tariff.

Environment and Energy Minister Thodoros Skylakakis announced on Thursday a series of measures regulating the electricity market that aim to protect retail customers after the horizontal subsidies framework stops on January 1, 2024.

Average electricity prices for households in the first half of 2023 in the European Union are the lowest in Bulgaria (11.4 euros per 100 kWh), BGNES reported.

After a significant price increase that began before Russia's invasion of Ukraine but spiked in the second half of 2022, electricity and gas prices are stabilizing, the EU statistics office "Eurostat" said.

The Ministry of Environment and Energy announced on Tuesday that it will continue to support electricity consumers in August with a total amount of 19 million euros.

Wholesale electricity rates may have fallen from €104.98 euros per megawatt-hour in May to €86.90/MWh in June (to date), but this significant reduction will not be reflected in the bills consumers will receive for July, based on kilowatt-hour prices announced by providers.

The majority of electricity suppliers have announced reduced tariffs in June (compared to those in May), following the decline in prices on the Energy Exchange.