Send to Kindle
Bulgaria's regional development minister Rosen Plevneliev (L) discussing matters with economy and energy minister Traicho Traikov at a sitting of the Bulgarian cabinet. Photo by BGNES.
The Bulgarian energy market should be radically liberalized and not governed by an overarching state regulator, according to Bulgarian minister of regional development Rosen Plevneliev.
The prices of electrical power and natural gas depend on a multitude of factors and the market should be left to shape them, called Plevneliev in an interview with the Bulgarian National Television.
Referring to recent controversy about the policy of electrical power utilities in their price-formation, Plevneliev said that we should stop putting all the blame to the utilities and should direct our attention to the role the state has had in shaping the present situation.
Plevneliev's statement comes just before a discussion later Thrusday on price hikes proposed by the state regulator – the Commission for Energy and Water Regulation. The hikes are up to 2% for electricity and up to 25-30% for natural gas.
The Bulgarian regional development minister also stressed the need to raise energy efficiency in the country. Bulgaria's industry has a chronic problem of notoriously low energy efficiency.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Work on the Nord Stream 2 pipeline was completed in September, but no gas will flow through it in the coming months. Germany stopped the procedure for its certification and as soon as it became known, energy prices increased by 18%. As Le Monde predicts,
Inflation in the Eurozone reached a record 3.4% for the last 13 years in September, according to Eurostat data. This is an increase of 0.4% compared to August.
“Bulgargaz” asked the Energy and Water Regulatory Commission to increase the price of gas for October by a shocking 36.2% compared to the previous month.
Under the EU Green Deal, of which Bulgaria is part, the use of coal in energy industry is to be done away with by 2030.
The right-hand man of Hristo Ivanov, MP of Democratic Bulgaria Hristo Mirchev, posted on his Facebook wall quite worrying news, given that the price of natural gas leads to price adjustments of almost everything.
Bulgaria is ready to double the subsidies it offers in order to secure the contract for the new Volkswagen plant, the German daily Frankfurter Allgemeine Zeitung writes in an exclusive material.
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
