How much does electricity cost in Bulgaria?

The average price of electricity since 2007 reached its maximum, €0.1192kWh, in December of 2023 and its minimum price, €0.0711 kWh, in June of 2008. The difference between the price of electricity with and without taxes is € 0.0199 tax for each kilowatt hour, thus, 16.65% of what households pay for electricity in Bulgaria.

How much does a battery cost in Bulgaria?

Currently, Bulgaria’s electricity market offers an opportunity for €110 ($122) per MWh profit on battery energy storage with two hours of discharge capacity using energy arbitrage. Rystad Energy ’s analysis estimates battery system costs at a flat €60 ($67) per MWh.

How much battery energy Storge capacity does Bulgaria have?

Bulgaria has installed between 40 MWh and 50 MWh of battery energy storge capacity to date. However, new national legislation as well as funds provided through the European Union’s Recovery and Resilience Facility (RRF) could add another 1 GWh of storage capacity over the next two years.

How is the Bulgarian electricity market regulated?

The Bulgarian electricity market is regulated by national laws and policies, which align with European Union directives and regulations. Efforts have been made to liberalize the market, allowing for greater competition and private sector involvement, which is expected to lead to more competitive pricing and improved service quality.

What can boost battery storage in Bulgaria?

Another development that can boost battery storage in Bulgaria is a recent update of national legislation to include battery energy storage systems as a component of the grid.

What is the main source of electricity in Bulgaria?

Nuclear power is another major contributor to Bulgaria's electricity supply. The Kozloduy Nuclear Power Plant, operational since the 1970s, is a key facility in this regard. Its output significantly reduces the country's reliance on imported energy sources, providing a stable and substantial amount of Bulgaria's electricity needs.