site.btaBulgarian Energy Holding Will Seek Change of Commitments for Trade on Energy Exchange

Sofia, December 20 (BTA) - The Bulgarian Energy Holding (BEH) will approach the European Commission about a possible change in the commitments of state-run electricity companies to sell certain volumes of electricity on the day-ahead market of the Independent Bulgarian Energy Exchange. Participants in a meeting Wednesday, hosted by Energy Minister Temenouzhka Petkova, rallied around the idea.

To avoid the payment of hefty fines because of BEH's restrictions on competition, the Kozloduy NPP, the Maritza East 2 thermal power plant and the National Electric Company (NEC) undertook to sell certain volumes of electricity on the energy exchanges

According to data of participants in the market, the shortage of peak electricity is among the reasons for the hike of electricity prices on the free market while at the same time NEC reports that between 50 and 300 MW of the volumes it offers remain unsold. One of the ways to remedy the situation is to ask the European Commission that the volumes offered by the state energy companies be traded through long-term contracts.

The request has been prompted by the latest amendments to the Energy Act under which the whole electricity output outside the regulated market will be sold through the energy exchange.

Wednesday's meeting brought together representatives of state-run energy companies, the Energy and Water Regulatory Commission, electricity traders, employer organizations and trade unions who discussed the fears of the business about a possible increase of the price of electricity on the free market and looked for mutually acceptable decisions.