In response to growing voices proposing the introduction of electricity export ban in an effort to lower electricity prices in the country, Bulgarian Minister of Energy Alexander Nikolov said that Bulgaria can do that only if it leaves the European Union, devoiding itself from of benefits of the common European market.
Minister Nikolov confirmed that it export ban is introduced, prices on the Independent Bulgarian Energy Exchange (IBEX) will likely drop, but such move has other serious consequences for the country. Bulgaria has a favorable energy mix in short-term, but it will need the support of neighboring markets of Romania and Greece in the long run.
He explained that European regulations prevent the possibility of municipalities, schools, hospitals and other public institutions entering the regulated market, where the price is determined by the regulator and not the free market. But the Government is already supporting these categories of consumers with compensations and will continue to do so.
