Electricity and heating prices will not change from 1 January despite high prices on the power exchange, Plamen Mladenovski, head of Bulgaria's energy and water regulator KEVR, said in an exclusive interview for the programme "Po sveta i u nas".

"We will work and intend to change neither the price of electricity nor the price of heating," he said.

Mladenovski spoke after power prices on the exchange jumped. On the Bulgarian power exchange, in the day-ahead segment, the price closed at €254.58 per megawatt hour.

Under the Energy Act, KEVR can review electricity and heating prices on 1 January for the rest of the regulatory period, which ends on 1 July next year. Mladenovski said the regulator will use every option the law gives it. He dismissed fears of a sharp rise.

The picture is different for gas. Bulgargaz wants the price of natural gas to rise by 34% for November, from the current €44 to €59 per megawatt hour. The KEVR head said the regulator will not approve the request.

He said gas is a separate matter, because Bulgaria imports all of its gas and the price depends on exchanges. Mladenovski said gas on the Dutch TTF exchange has probably risen three or four times since the start of the year.

He did not rule out a higher gas price, but one below the level Bulgargaz asked for. "We may not avoid a rise there, but we will in no way allow the huge increase that Bulgargaz asked for," he said.

KEVR will discuss Bulgargaz's request for the November gas price at an open meeting tomorrow.