In 2023, Bulgaria collected 217 million BGN from a windfall tax on firms in the oil, natural gas, coal and petroleum products sectors, according to Finance Minister Lyudmila Petkova. This tax was introduced to capture the extraordinary profits these firms made due to the surge in energy prices following Russia’s invasion of Ukraine. The windfall…
The Association of the Organizations of Bulgarian Employers (AOBE) has urgently called for government action to address the soaring electricity prices affecting businesses in Bulgaria. In an open letter to the authorities, the AOBE is demanding compensation measures to support the economy and maintain the industrial sector. To mitigate the impact of these high electricity…
A power unit is back in operation following scheduled repairs at one of Ukraine’s nuclear power plants, the press service of Energoatom, Ukraine’s national nuclear energy operator, reports. “Energoatom has reconnected to the power grid ahead of time another power unit, following the reloading of nuclear fuel and scheduled repair,” the statement reads. It is…
The Baltic power transmission system operators on July 16 notified Russia and Belarus of the non-extension of the so-called BRELL contract and their withdrawal from the Moscow-controlled post-Soviet electricity system as of February 2025. Lithuania’s Litgrid, Latvia’s AST and Estonia’s Elering “have notified Russian and Belarusian operators on the non-extension of the BRELL agreement, which…
NPC Ukrenergo will procure power system support services in advance from distributed generation facilities under construction, the company’s Chairman of the Board Volodymyr Kudrytskyi has said. “Ukrenergo will buy power system balancing services from new power plants for 5 years. We will sign contracts with power plants that have not yet been built for 5…
The European Commission has approved Polish plans to use around EUR 194 million (900 million zloty) of EU funds towards construction of a terminal for offshore wind farms in the city of Gdansk. The terminal will be located at the Baltic Hub – Poland’s largest container port – and will facilitate the installation and servicing…
Minister of Energy German Galushchenko held a meeting with the delegation from the European Bank for Reconstruction and Development, headed by Managing Director for Ukraine and Moldova Arvid Turkner. This was reported by the ministry’s press service. “The parties discussed the instruments and specifics of providing financial assistance to Ukraine for the purchase of energy…