• Thursday, 11 July 2024

ERC: If companies’ requests are approved, electricity prices to surge by 27%

ERC: If companies’ requests are approved, electricity prices to surge by 27%

Skopje, 12 December 2023 (MIA) - According to the Energy Regulatory Commission (ERC), the acceptance of the companies’ requests would lead to a 27 percent hike in electricity prices.

ERC President Marko Bislimovski revealed in a press conference on Tuesday that analyses for electricity prices are underway. He expected the prices for MEPSO, MEMO, and EVN to be decided by the end of the next week.

These three companies submitted requests, but, as Bislimovski noted, some of them are incomplete due to the requirement that the tender for the procurement of electric energy to cover losses at MEPSO must be executed by the end of this week. Similarly, EVN submitted the request before executing their tender, and as a result, their request lacks the data for the cost of procuring electric energy to cover the losses.

“Therefore, ERC cannot accurately determine the exact amount requested by MEPSO and EVN. We also have information from the tender for the universal supplier that ESM has proposed a price, and this is already the agreed-upon price, starting at 57 euros per megawatt-hour instead of the previous 53 euros per megawatt-hour. Instead of securing the total needs at 100% for households and small consumers, it will be 95%,” Bislimovski said.

Following this, in line with amendments to the Energy Law, the universal supplier will be obligated to conduct calculations that must be submitted for review to the ERC.

“In the course of this review, we have the authority to issue a separate decision with specific findings, and such a decision will be binding for the universal supplier,” Bislimovski added.

Photo: MIA archive