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Bulgaria's energy regulator cuts f'cast on avg heating price hike

Bulgaria's energy regulator cuts f'cast on avg heating price hike Author: Nick Page. License: CC BY 2.0

SOFIA (Bulgaria), June 8 (SeeNews) - Bulgaria's energy regulator said that it expects the average price of heating energy for households to rise by 26% from July 1 instead of the 39.26% increase forecast last month, on the back of the government's package of anti-crisis measures planned as part of the upcoming budget revision.

The positive effect will be partly driven by the proposed reduction to 9% from 20% of VAT levied on the prices of electricityr, heating energy and natural gas, the Energy and Water Regulatory Commission (EWRC) said in a statement on Tuesday.

The removal of excise tax on retail purchases of electricity and liquefied natural gas (LNG) will also contribute to the lower price of central heating for end users.

The regulator added that the required public discussion on the EWRC's projections did not lead to any adjustments of the increase in central heating prices forecast in May.

"All consumers in the country can rely on the EWRC forecasts for the central heating price. In the event of significant changes in the pricing elements, the Commission is ready to adopt an extraordinary decision so as to reflect those in the price of heating," EWRC chairman Stanislav Todorov said.

In a separate statement, the energy regulator also confirmed its original forecast of a 3.3% rise in the price of electricity from next month.

On Wednesday, Bulgaria's government approved the finance ministry's proposal for the 2022 budget revision, which ensures a 2 billion levs package of measures to support households and businesses in overcoming the economic difficulties compounded by the war in Ukraine.

The EWRC will set the definitive prices of central heating and power for July on July 1.

(1 euro = 1.95583 levs)

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