site.btaEnergy Reforms under National Recovery and Resilience Plan Set Out by Petkov Cabinet Threaten Energy Security - Minister

The energy reforms included in the National Recovery and Resilience Plan by the government headed by Kiril Petkov are unachievable, said Energy Minister Zhecho Stankov at a news briefing at the Council of Ministers on Wednesday.

“At the Ministry of Energy, we conducted a very detailed analysis concerning the reforms and projects in the energy section of the National Recovery and Resilience Plan, and I must be completely honest here— the situation is not just concerning, it’s critical and even dramatic,” he noted.

According to him, the planned reforms "threaten the country's energy security and are run counter to the national interest."

“Everything set out by the government of Kiril Petkov significantly affects the second payment under the Plan. The unfavorable reforms lead to the fact that it will cost the Bulgarian citizen dearly if they are not carefully reformulated and renegotiated,” Stankov added.

“On one hand, we are pressed by the deadline, and on the other hand, if the reforms are pushed through in this form, they will lead to disproportionately large damages for Bulgarian citizens,” the minister added.

Minister Zhecho Stankov also listed the reforms in question.

First, the removal of two strategically important companies for the country, which ensure Bulgaria's energy security – the Electricity System Operator and Bulgartransgaz – from the Bulgarian Energy Holding, which will lead to early repayment of bond loans currently amounting to EUR 1.2 billion, as well as reducing investor confidence in the energy sector.

Secondly, the commitment made by the Petkov government to reduce emissions from coal-fired power plants by 40% as there is no such requirement in any regulation or directive. Last but not least, the adoption of a roadmap for climate neutrality, which, in essence, does not take on any additional commitment to Brussels but creates tension and misunderstanding in society, he listed.