Macedonian Govt to hike electricity prices, end pension raises


A new energy law will be enacted which will allow for the formation of a free energy market, which will quickly lead to electricity price hikes because with the new law, the Government will no longer be able to regulate the prices. This new law will be adopted next week, the Government decided during today’s session.

The previous Government did not enact such law precisely for the reason it will lead to price hikes which will hit families quite hard.

This initiative was spearheaded by Zaev’s advisor and Vice Prime Minister Kocho Angjushev, a wealthy businessman believed to be worth over 50m euros. He owns Veles based BRAKO. Ironically, Angjushev through EFT Macedonia is one of the largest traders of electricity in the country and stands to make millions once this law passes.

During the same Government session, pensions will no longer go up, and the last 1% increase will remain. The previous Government had the pensions to go up by 5% this October. The SDS actually had planned on lowering the pensions, however it appears they have been prevented by PM Baily who advised them that it was bad timing for such a move due to the upcoming elections.