Bulgaria Grapples with Soaring Corruption Rates: New Report Reveals Shocking Data
Corruption in Bulgaria has soared to its third highest peak in history, according to a recent report by the Center for the Study of Democracy
The decision to scrap plans to build Belene nuclear power plant is a catastrophic mistake, taken under US pressure, and dooms Bulgaria's only technology sector to slow death, a socialist has fumed.
"The Americans, not Borisov decided the fate of Belene," Socialist MP and former economy and energy minister Rumen Ovcharov told Nova TV morning broadcast, referring to Prime Minister Boyko Borisov.
"The move will clear the market for Maritsa East output, whose price is three time higher," Ovcharov said.
"I was absolutely dumbfounded by the prime minister's statements, which showed total lack of knowledge and competence. In fifteen years Bulgaria will be forced to import electricity, trust me," added Ovcharov, who left the previous government in 2007 in the wake of a corruption scandal.
In the middle of last year Italian energy giant Enel closed the sale of its majority stake in Maritsa East 3, a Bulgarian coal-fired plant, to US investment fund Contour Global.
The Dutch subsidiary Enel Investment Holding BV has transferred its 73% stake in the Bulgarian company Maritsa East 3 AD, owner of a lignite-fueled power plant ("Enel Maritsa East 3"), and 73% of the share capital of the Bulgarian company Enel Operations Bulgaria AD, which is responsible for the operation and maintenance of the plant.
The plant is located in the Maritsa East lignite coal mining complex in southern Bulgaria, which generates 30% of the country's electricity.
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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
Amidst Ukraine's urgent need for additional power sources following the closure of the Russian-controlled Zaporizhzhia nuclear power plant
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022