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Bulgarian PM: We Offered a Collective Approach to Dealing with High Gas Prices for the whole EU

“The European Commission has included Bulgaria’s proposal for a common approach to high energy prices on its agenda this week.” This was stated by Prime Minister Kiril Petkov before today’s cabinet meeting.

Petkov pointed out that the increase in prices in our country is due to high prices of fuels and gas on world markets, that is, it is inflation that floods us from outside. That is why the government has developed concrete measures that will be discussed with European partners.

The Bulgarian proposal to the EC envisages:

  • co-purchasing gas through an EU-wide negotiating team so as to harness common market power;
  • if the price to be agreed is more than EUR 50 per megawatt-hour, a mechanism should be set up within the EU to reach a price of up to EUR 50 per megawatt-hour;
  • coordinated reduction of excise duty on fuels;
  • enhanced dialogue with liquefied gas suppliers to ensure a second supply scenario;
  • filling of EU gas storage facilities by up to 90% before next winter.

The Bulgarian proposal is expected to be discussed on Thursday.

The cabinet will consider today the extension of the four business compensation programs due to high electricity prices. They increase the ceiling of compensations – from BGN 250 to BGN 300.

“We are working together to make this external crisis, which has flooded Europe, bearable for Bulgarian business,” Petkov said.


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