EWRC has initiated proceedings for violations of the price of electricity

Photo: Investor.bg

The Energy and Water Regulatory Commission (EWRC) has initiated proceedings against market participants under the powers given to it in the Energy Act to control the transparency of the wholesale electricity market. This was announced by the energy regulator. The Commission has launched an inspection , related to high electricity prices, in early August after two signals – one from the Agency for Cooperation of European Regulators (ACER) and one of a group of market participants. According to the rules, the regulator cannot give details about ongoing investigations – information will be disseminated after the end of the inspection. The institution called for “unfounded allegations in the public space against market participants” not to be spread. This may negatively affect the price levels on the stock exchange, warn the EWRC. “The organized wholesale electricity market is a free market, where prices are not subject to regulation, but are formed on the basis of supply and demand,” the energy regulator said. Possible manipulations of the energy exchange have been discussed since the beginning of August, when the price of electricity in our country rose sharply and for several days exceeded price levels in other European countries, including Germany. EWRC, according to the established procedural order, continues the work on all received signals with suspicions of market abuse, assure the regulator. A few days ago, the State Agency for National Security (SANS) entered the EWRC. It is now clear from the Commission’s announcement that documents related to the investigation have been seized and the regulator also assists the authorities by providing expertise. The MP from “Stand up BG! We are coming” Maya Manolova announced during the meeting of the parliamentary committee headed by her, which checked the activity of state companies, that there is a signal from Kozloduy NPP for cartel agreement on the stock exchange.