Bulgaria's energy regulator Friday said it has lowered the maximum prices for electricity that power companies can charge customers, its second cut to prices this year in a nation that has been rocked by protests since the start of the year.
Bulgaria 's energy regulator Friday said it has lowered the maximum prices for electricity that power companies can charge customers, its second cut to prices this year in a nation that has been rocked by protests since the start of the year.

For the period between July and June 2014, the State Energy and Water Regulation Commission reduced prices for household customers of the Bulgarian unit of Prague-based utility CEZ AS (BAACEZ.PR) by 4.9% annually.

The annual decline for household customers of Austria 's EVN AG (EVNV.VI) is 4.8% and it's 4.4% for household customers of Energo-Pro Sales, a unit of privately held Czech company Energo-Pro AS.

The regulator also reduced prices for commercial customers of units of CEZ, EVN and Energo-Pro by 6.5%, 4.8% and 4.4% on year, respectively.

Jumps in power prices in the second half of late last year, exacerbated by new fees for renewable energy including photovoltaic- and wind-generated power, showed up on electricity bills at the start of this year.

The spikes lead to mass protests, several self-immolations and the fall of the right-leaning government in the European Union's least-affluent country.

In the spring, the regulator--under political pressure during the tenure of a caretaker government of technocrats--cut prices.

These latest cuts come as protesters--concerned by what they call mafia-style business deals between the new Socialist Party-led coalition government and special interest groups--continue to gather in the streets daily, demanding the government's resignation and fresh elections.

The regulator Friday also said it will hold a meeting on Monday to discuss power price issues with representatives of the state as well as with labor and social groups.

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