Majority of Bulgarians Fear Impact of Green Deal on Electricity Bills
Amid the implementation of measures under the European Union's Green Deal, 64% of Bulgarians have identified the escalating electricity prices as their top concern
The first reading of Energy Act amendments envisaging the establishment of an Electricity System Security Fund is to take place on Tuesday.
The changes were proposed by Bulgaria’s Energy Ministry in a bid to curb the deficit at the National Electric Company (NEK), according to reports of the Bulgarian National Radio.
Energy Minister Temenuzhka Petkova expects that the amendments will stabilize the energy system and pave the way for the introduction of the free electricity market in 2016.
The resources of the Fund will be provided through contributions of electricity producers amounting to 5% of their monthly revenues.
The National Revenue Agency will be in charge of the collection of the installments.
Meanwhile, right-wing formation the Reformist Bloc has proposed that electricity producers publish the terms of the contracts under which they sell electricity in a bid to boost transparency.
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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