The complicated situation in Iran and Venezuela and the high carbon prices that have an effect on all energy companies in Bulgaria are the reason for the appreciation of prices of the heating from July. This was explained by the Chairman of the Energy and Water Regulation Commission Ivan Ivanov. The price of electricity is consistent with annual inflation, Ivanov said.

As it became clear days after the elections, the KEVR has suggested that the heating in Bulgaria should rise by an average of 4.5 percent, while the electricity – with an average of 3.48 percent. The regulator offers electricity to rise in Western Bulgaria by 3.64 percent. For North Bulgaria, a 3.38 per cent increase is planned, according to novinite.com.

In southeastern Bulgaria, KEVR believes that the price should be close to 3.6 percent. The most serious rise in heating and hot water is expected in Razgrad, while there should be decrease of a half percent in Sliven.

“This is the sharp rise in the price of carbon dioxide emissions traded on a European platform that reached levels of around 25 euros per tonne of emissions. Secondly, this is the complicated situation, primarily with regard to Iran and Venezuela, which is causing a turbulence in the crude oil market.”