The contracts with US companies AES and Entergy for new construction and rehabilitation of TPPs Maritsa-East 1 and 3 were signed today at the Council of Ministers. The deals were approved last week by the cabinet and this raised political torts. King`s economic team and Bulgarian Socialists Party leader Roumen Ovcharov plead Kostov`s cabinet not to seal the deals before the General Election June 17. Total investment will be $1,4 Bln. Initially the Bulgarian National Electricity Company (NEK) will purchase the electricity at $0.03 from Entergy and at $0.043 from AES. Danail Tafrov, NEK CEO assured that there won`t be an increase in the electricity prices. All three strategies drafted for price development envisage drop of prices. It took more than one year negotiations and uncertainty to reach an agreemnet with the government. Experts remind the strong pressure provided by US government, but they say the coming elections were more important reason to speed up the deals.
A recent study by the Association for Responsible Non-Banking Lending (AONK) shows that nearly a quarter of Bulgarians have used quick loans at least once in their lives. The findings were presented by the organization’s chairman, attorney Nikolay Tsvetko
Bulgaria’s state fuel reserves are sufficient to cover normal consumption for the next 90 days, but domestic fuel prices continue to climb amid the ongoing military conflict in the Middle East
Acting Prime Minister Andrey Gyurov highlighted the strategic importance of energy infrastructure for the European Union during a meeting in Paris with other European leaders, convened at the invitation of French President Emmanuel Macron.
Bulgaria is increasingly turning into a destination for motorists from neighboring countries seeking cheaper fuel, as turbulence on global oil markets linked to tensions in the Middle East continues to influence prices across the region.
The ongoing military conflict in the Middle East is expected to influence fuel prices in Bulgaria with a lag of approximately 7 to 14 days, potentially pushing inflation in the country up by around 0.6%, according to economist Assoc. Prof. Shteryo Nozharo
The Commission for the Protection of Competition (CPC) has highlighted a troubling disparity in Bulgaria’s dairy sector: consumers face some of the highest prices for dairy products in the European Union, while local producers and processors struggle to s
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