Energy exports shrank by nearly a half

The strong offering in the region and low fuel prices led to a decline of 46%.

Expectations of manufacturers and retailers that high summer temperatures will offset the drastic decline in export of electricity from the beginning of this year did not materialize. At the beginning of September from Bulgaria to external markets traded 45.7% less energy compared to the same period in 2015.

The reason – the region’s supply is large, and hence the prices are low, as the main competitor of the country is Romania. The cheap fuel is of great influence as well. Therefore the year will certainly be weaker than 2015, when net growth in exports was 11%.

A small compensation of the collapse is still there – in April this decline was 56.4 percent, but the big minus remains. Traditionally summer consumption rises, and hence prices, as traders observations of this season’s increase was 3-4 euros per megawatt per hour compared to the spring.

Curiously there is a decline in the quantity consumed at the local market – a little over 2%. In case the economy is growing, it should mean that companies and / or households have become a little more energy efficient. Influence has the mild winter, during which households consume less electricity.