President Rumen Radev has vetoed the amendments to the Energy Act, by force of which the electricity market for household consumers will be fully liberalized by 2026.
“The standard of living for the majority of Bulgarian citizens remains the lowest in the EU, and the planned changes could make things even more difficult for the people who are finding it difficult to meet their basic living expenses,” the motives read. The president expresses doubts whether the transition period set down, during which as of 2024 household consumers will receive compensation, and in which a full liberalization of the market will be put in place at the end of 2025, will be effective. Rumen Radev also warns that closing down the public provider will lead to the swift closure of the Maritza Iztok mines.
“There is no risk of a sharp rise in prices,” said Prime Minister Nikolay Denkov in a comment on the veto by the president. “This liberalization had to happen, the regulation is from 2019. Bulgaria is running significantly late with regard to the agreements it has signed,” the Bulgarian prime minister said further.
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Partly cloudy, chance of rain
Mostly Cloudy
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