State Energy and Water Regulation Commission (SEWRC) representatives suggested electricity price hike of five per cent.

The new daily electricity price will be 0.008 leva per kilowatt hour higher than the current one and the price for night-time consumption will be 0.005 leva higher, Dnevnik daily reported.

Most electricity producers, electricity distribution companies and the National Electricity Company (NEC) disagreed with the proposal because it sufficiently differed from the levels demanded.

Electricity price hike proposed by SEWRC was insufficient to guarantee NEC's financial stability, NEC representative Lilia Ivanova said.

The company's losses could reach 65 million leva due to insufficient price increase, NEC said.

Kozloduy nuclear power plant, as well as the facilities in Varna and Bobov Dol also opposed SEWRC's suggestion claiming that new prices failed to cover their production costs.