Economy

Bulgaria: Four steps to help families and the economy cope with rising electricity prices

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Deputy Prime Minister and Minister of Economy and Industry Cornelia Ninova voiced support for the electricity price moratorium adopted by Parliament last week and said four measures were planned to help families and businesses cope with rising electricity prices. , in a TV interview he gave on Tuesday.

“I support the (energy) price moratorium and I insisted on it in the cabinet. I know what the arguments are against, and some of them are logical. However, our first priority is to take care of the households, the families and the people who they may not be able to withstand this shock from January 1. The second is compensatory mechanisms for the economy and business.

Third, the electricity distribution companies, the Electricity System Operator (ESO) and the water companies. And the fourth measure that I consider sufficient is the increase in income. “These four measures combined will enable both families and businesses to cope with this blow, will guarantee some security during the winter months which we expect to be very difficult,” Ninova told Bulgarian National Television, according to her press office. her party.

According to Vice President Ninova, the price moratorium should go hand in hand with the compensation of electricity distribution companies. She believes that the three months of the moratorium should be used for legislative changes that will guarantee a fairer future pricing.

The compensatory measures related to the Covid-19 crisis, which were in force until the end of November, will also apply to December.

Nineveh said that due to rising prices, electricity producers and traders have made significant profits that could be used to offset the economy, adding that some European countries have already done so.

“And this is very logical, because these huge profits have been accumulated by the economic entities, the small and medium-sized enterprises that are struggling now as well as the households – so it is fair that this part of this money be returned to the world and to the companies from which it was taken. from the beginning “, stressed the Deputy Prime Minister.

The forthcoming completion of the gas pipeline interconnection with Greece and the use of Azeri natural gas is a possible but not the only tool for reducing energy prices and the meetings with the Greek Prime Minister Kyriakos Mitsotakis with the Bulgarian leadership during his visit in Sofia on December 20 could give impetus to the construction of the pipeline, Ninova pointed out.

In a separate development, the Bulgarian Association of Hotels and Restaurants (BHRA) announced that it expects an urgent solution to the problem of rising electricity prices for businesses and adequate measures to compensate hotels and restaurants, which claim to be its industry. economy that has been hit hardest by all.

The list of Union demands also includes appropriate measures for the staffing of tourism, extension of the 60/40 employment retention system and the previous conditions under which it was implemented; low-cost bank loans for businesses and staff through new products of the Bulgarian Development Bank and of the Fund (FoF), as well as deferral of old loans; creation of an online visa (entry) center to streamline the issuance of tourist visas; airline position for travel agents in all modes of transport; digitization of advertising in tourism; revisions of laws and secondary legislation, inter alia.

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