Bulgarian PM: We Offered a Collective Approach to Dealing with High Gas Prices for the whole EU

Business » ENERGY | March 23, 2022, Wednesday // 11:50
Bulgaria: Bulgarian PM: We Offered a Collective Approach to Dealing with High Gas Prices for the whole EU

“The European Commission has included Bulgaria's proposal for a common approach to high energy prices on its agenda this week.” This was stated by Prime Minister Kiril Petkov before today’s cabinet meeting.

Petkov pointed out that the increase in prices in our country is due to high prices of fuels and gas on world markets, that is, it is inflation that floods us from outside. That is why the government has developed concrete measures that will be discussed with European partners.

The Bulgarian proposal to the EC envisages:

  • co-purchasing gas through an EU-wide negotiating team so as to harness common market power;
  • if the price to be agreed is more than EUR 50 per megawatt-hour, a mechanism should be set up within the EU to reach a price of up to EUR 50 per megawatt-hour;
  • coordinated reduction of excise duty on fuels;
  • enhanced dialogue with liquefied gas suppliers to ensure a second supply scenario;
  • filling of EU gas storage facilities by up to 90% before next winter.

The Bulgarian proposal is expected to be discussed on Thursday.

The cabinet will consider today the extension of the four business compensation programs due to high electricity prices. They increase the ceiling of compensations - from BGN 250 to BGN 300.

“We are working together to make this external crisis, which has flooded Europe, bearable for Bulgarian business,” Petkov said.

/BNT

Follow Novinite.com on Twitter and Facebook

Write to us at editors@novinite.com

Информирайте се на Български - Novinite.bg

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: energy, fuel, prices, Bulgaria, EU
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria