January 14 (SeeNews) - The Bulgarian authorities are launching joint checks of the local power distribution units of Austria's EVN and Czech companies CEZ and Energo-Pro in response to concerns of local businesses over a sharp rise in electricity prices.
A joint team of the energy ministry and the energy regulator will check between January 15 and 21 whether Power Distribution North, a unit of Energo-Pro, Power Distribution South, part of EVN, and CEZ Distribution Bulgaria [BUL:3CZ], majority owned by CEZ, are meeting their licence requirements, the ministry said in a statement on Friday.
The chairman of the energy regulator will call a meeting on Monday of the heads of the three power distribution companies, the state-owned companies which are the main suppliers of electricity on the free market - the National Electricity Company, Kozloduy nuclear power plant and Maritsa East 2 thermal power plant - the Bulgarian Energy Holding, the Independent Bulgarian Energy Exchange (IBEX) and the Electricity System Operator to discuss steps to to increase the volumes of energy on the day-ahead market and reduce demand risks. The meeting will be attended by energy minister Temenuzhka Petkova.
At present the power distribution companies are buying the electricity they need to cover technological losses from the day-ahead market, with these volumes reaching up to 30% of the energy traded on this segment of the IBEX.
The average base prices of the day-ahead market of the IBEX have been rising since the start of 2019. They peaked at 183.6 levs ($107.6/93.8 euro) per MWh on Thursday and stood at 141.2 levs on Monday, IBEX data shows.
(1 euro = 1.95583 Bulgarian levs