site.btaElectricity for Businesses To Be Nearly 40% Cheaper on Sunday in Bulgaria

Electricity for businesses in Bulgaria on Sunday will be 37.86% cheaper compared to its price with a day of delivery for Saturday. Electricity was traded on the Independent Bulgarian Energy Exchange (IBEX) at an average price of BGN 423.61/MWh (excluding VAT), according to trading data in the day-ahead market segment after the close of the exchange. The deals are based on tomorrow's delivery day (August 7). On Friday, the energy exchange closed at an average price of BGN 681.65/MWh.

The average price of energy in peak hours (between 9 am and 9 pm) is BGN 300.31/MWh. Off-peak energy (between 1 am and 8 am; 9 pm and 12 am) was traded at an average of BGN 546.92/MWh.

The lowest price during Saturday’s session, with Sunday as a delivery day, was BGN 169.22 MWh, reached in the 1-2 pm period; the highest was BGN 825.34/MWh, reached between 8-9 pm. IBEX data showed a total volume of 69,517.40 MWh sold electricity.

The IBEX Intraday Market on Saturday registered a total traded volume of 2877.50 MWh by 7.30 pm. The average price was BGN 696.04/MWh (excluding VAT).

Parliament accepted compensations for businesses with the state budget update for 2022 due to the high electricity prices. They envisage the Energy System Security Fund to compensate non-domestic customers of electricity in the amount of 100% of the difference between the real average monthly exchange price of the day-ahead segment of IBEX for the relevant month and the base price in the amount of BGN 250/MWh for the period from July 1 to December 31, 2022. No compensation is paid for customers with prices below the base price of BGN 250/MWh. Customers with a price exceeding the basic price by a smaller amount than the amount of compensation are paid compensation in a reduced amount, so that the resulting price for the customer after compensation is not lower than BGN 250/MWh.