Varna Sees Significant Rise in German and European Tourists in First Half of 2025
German tourists are once again choosing Varna as a destination, according to the latest data from the Ministry of Tourism
AES Bulgaria, the local unit of NYSE-listed AES Corporation has said it will provide all the necessary information to assist a possible inspection of alleged irregularities in the energy sector by the country’s Chief Prosecutor's Office as it had done in previous inspections.
AES Bulgaria operates the 600 MW net coal-fired power plant AES Galabovo located in Maritsa East Basin in southern Bulgaria.
Numerous checks and audits by Bulgarian law enforcement authorities, including the prosecution, have found no discrepancy with the law in the Power Purchase Agreement signed between the state-owned electricity company NEK and AES Galabovo, AES Bulgaria said in a statement.
The heads of the four nationally-represented associations of Bulgarian employers asked Chief Prosecutor Sotir Tsatsarov on Wednesday to look into alleged irregularities in the energy sector, including the privatisation contract for the power plant. If those irregularities were eliminated, power prices in Bulgaria could fall, according to the employers.
"“In its business AES Bulgaria is strictly following all legal requirements of the Bulgarian state and the European Union, as well as anti-corruption laws and standards, including the United States’ Foreign Corrupt Practices Act,” AES Bulgaria Executive Director Olivier Marquette said in the statement.
The contracts between AES and the Bulgarian government are publicly available, Marquette said.
"This is in line with the efforts of our corporation to be loyal and predictable partner of the society we serve," he added.
Bulgaria has reached a strategic financing agreement with the American Citibank for the construction of Units 7 and 8 at the Kozloduy Nuclear Power Plant
Energy Minister Zhecho Stankov shared encouraging news for Bulgaria’s energy sector, highlighting that financial institutions are prepared to provide funding eight times greater than what is required for the construction
Energy Minister Zhecho Stankov has firmly criticized the 2022 agreement between state-owned Bulgargaz and Turkish company Botas, arguing that there was no objective reason to enter into such a deal
Authorities have launched a wide-ranging investigation into the controversial gas transmission agreement between Bulgaria’s state-owned Bulgargaz and the Turkish company Botas
The European Commission is preparing a new phase of green legislation that could significantly impact fuel prices across the EU
As of July 1, a new pricing period begins for household electricity, heating, and hot water in Bulgaria
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