The Bulgarian Government is preparing the full liberalization of the energy market, which is expected to solve the financial problems of the sector and guarantee a fair price for households and industrial consumers, according to Energy Minister Temenuzhka Petkova.

Petkova made clear that the Government was laying the groundwork for the liberalization of the energy market from regulatory hindrances as of the beginning of 2016.

She pointed out that a report of the World Bank on the steps towards liberalization was due in October, adding that the transition would be accompanied by an information campaign and discussions on the topic.

“Household consumers and Bulgarian industry have long been waiting for the date 1 January 2016. As of that moment, the role of the Commission for Energy and Water Regulation (KEVR) in the new situation will be very minimal. KEVR will then only determine transit and access fees and the “obligation to community” component of tariffs, but the price of electricity will be set by the market,” she said, stressing that the price of electricity was bound to be fair.

Petkova expressed hopes that the financial problems plaguing the sector would be dealt with very soon.