Bulgaria's energy legislation needs urgent amendments early next year amid steps to liberalize the energy market, the chief of the energy watchdog has said.

Ivan Ivanov, who heads the country's Commission for Energy and Water Regulation (KEVR), has made his comments during a hearing in Parliament, ahead of the first test launch of the energy exchange in Sofia.

Changes needed include the transposition of EU regulations on wholesale market transparency - ones which KEVR has partly introduced but which in his words have to be added to the Energy Act as well.

Another key amendment has to give an alternative status to state-owned National Electricity Company (NEK), which is currently the unique buyer and supplier of electricity under the law.

The latter is incompatible with the functions of the energy exchange, which is designed to involve multiple participants.

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