Bulgaria Shields Businesses from High Electricity Costs Until March

The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March. Under the new measure, the full difference will be covered when the exchange price exceeds 180 leva per megawatt-hour, effectively preventing electricity bill increases.
Energy Minister Zhecho Stankov emphasized the program's dual objectives: halting inflationary processes linked to electricity prices and safeguarding employment for tens of thousands of workers. He warned that the full extent of the law would be applied against any sectors or businesses attempting to raise prices for goods and services, particularly essential items, under the pretext of high electricity costs.
Business and labor representatives have welcomed the decision. Vasil Velev, chairman of the Association of Industrial Capital in Bulgaria, called on member companies to refrain from increasing prices or implementing staff layoffs due to electricity expenses. The unions, meanwhile, plan to push businesses to increase wages using the money saved through state compensation.
Source: BNR

Zelensky: Bulgarian Reactors Will Strengthen Ukraine’s Energy Sector Amid War
Ukraine's parliament, the Verkhovna Rada, has passed a law allowing the purchase of two Russian-made nuclear reactors originally intended for Bulgaria's Belene Nuclear Power Plant

Bulgaria's Belene NPP Reactors Set for Ukraine’s Khmelnytskyi Nuclear Plant
Ukraine's parliament has given the green light for the acquisition of two nuclear reactors initially intended for Bulgaria's Belene Nuclear Power Plant (NPP)

Bulgaria's Electrical Industry Dominates Exports Despite Key Challenges
For the ninth consecutive year (excluding 2022), the electrical industry remains the largest contributor to Bulgaria's exports, as reported by the Bulgarian Association of Electrical Engineering and Electronics (BASEL)

European Natural Gas Prices Surge to 16-Month High Amid Cold Snap
European natural gas prices have climbed above €55 per megawatt-hour for the first time in 16 months, driven by colder temperatures across the continent that are increasing demand for heating fuel

Gazprom-Backed NIS Weighs Exit from Bulgaria and Romania After Financial Losses
Serbian oil and gas company NIS, controlled by Russia’s Gazprom, is considering exiting its operations in Bulgaria and Romania due to ongoing difficulties in both markets

Bulgaria Weighs Energy Security as Lukoil Refinery Sale Moves Forward
The Russian company Lukoil initiated the process of selling its Bulgarian assets in June last year, Prime Minister Rosen Zhelyazkov announced during a parliamentary hearing