The termination of the long-term contracts with the thermal power stations “Maritsa Iztok-1” and "Maritsa-Iztok-3” (owned by the US companies АES and ContourGlobal respectively) is to take place by 30 June, 2021, as set down in the market reform schedule of the electric energy industry which the Ministry of Energy has sent the European Commission, BTA reports.
The contracts for the purchase of electric energy from the two power plants were signed by the National Electricity Company in 2001 by the government of Ivan Kostov. Terminating the existing long-term contracts is dictated by the EU rules regarding state aid and the planned wholesale market changes for the deregulation of the market.
The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February..
Moody's expects Bulgaria to join the Eurozone no later than the beginning of 2026. According to the rating agency, the growth of the Bulgarian economy in 2024 will be 2.9%. The ongoing domestic political crisis and the likelihood of new early elections..
Until the end of 2024, businesses will continue to receive compensations for high electricity prices. They will be 100% after a price of over 90 euros per megawatt hour on the stock exchange. The previous threshold was 100 euros. The..
The procedure for renewable electricity storage projects under the National Recovery and Resilience Plan is now open and proposals are being accepted...
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