The National Assembly Voted at First Reading the Law on Energy
The National Assembly voted at first reading the Energy Act, which switches from a regulated to a free gas market, by creating an independent gas exchange.
Bulgaria’s State Commission for Energy and Water Regulation (DKEVR) is renamed to Commission for Energy and Water Regulation (KEVR) under amendments to the Energy Act that passed second reading in Parliament on Thursday.
Under the new provisions the members of KEVR are elected by Parliament, according to reports of Darik radio.
In order for a decision to be adopted, it has to be approved by more than the half of its members. Abstention is not allowed.
The energy watchdog is defined as a permanent body that is independent of the executive branch.
The total headcount of the regulatory body increases from 7 to 9 members.
The KEVR members are elected and dismissed through decisions of Parliament. KEVR members may be nominated by MPs and parliamentary groups.
The KEVR Chair and the KEVR members are elected separately by Parliament.
KEVR members continue to hold office until their successors take up their duties.
The new KEVR panel is elected no earlier than three months and no later than one month before the expiration of the term in office of the existing panel.
Under the newly adopted Energy Act amendments, the energy watchdog brings together two units, including one tasked with energy issues, and one responsible for the water sector.
The two units of KEVR review and decide on issues related to price regulation in the sectors of energy and water supply and sewerage services, as well as on the complaints submitted with the watchdog.
KEVR has both open and closed meetings, depending on whether classified information is discussed.
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 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
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
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
In 2023, 10.6% of the population in the European Union reported being unable to keep their homes adequately warm
The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March
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