Following the amendments to the Energy Act, by 1 October 2020 all small, medium or large business owners must choose their electricity provider, as from this date on, the regulated market for business customers will cease to exist and electricity supply at prices determined by the EWRC will be terminated.
What is free market and what does it mean for you and your business?
Market liberalization or the transition to a free market, to put it simply, is a process that has been taking place for over 15 years. It is also a mechanism that has been introduced throughout Europe for a long time.
In Bulgaria, the first consumers to benefit from the free market were large high-voltage industrial facilities.
In 2013, they were followed by medium voltage enterprises, and this year, after the latest changes in the energy law, the regulated market is ceasing to exist for all low-voltage business consumers – in other words, a large number of small and medium-sized businesses.
From 1st October, absolutely all business consumers will no longer buy electricity at prices set by the state, but will freely negotiate their terms on a market basis. This is not a cause for concern, on the contrary – the free market and the right to choose are good news for the business and, as in any other field, free trade of electricity creates a competitive environment and leads to better prices, conditions and customer service.
Just like you currently choose and sign contracts for Internet, mobile services or office supplies, you now have the opportunity to find the best partner to supply electricity to your business.
The official deadline for the change over to a free market is October 1, 2020.
Technically, this means that applications for a change of provider must be submitted by 10 September 2020. Therefore, this is the deadline for concluding a contract in order to comply with the legal deadline.
You can find more information on what will actually happen if you do not exercise your right to choose within the statutory period in our article on this topic in the Useful Information section on www.synergonenergy.bg