The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March. Under the new measure, the full difference will be covered when the exchange price exceeds 180 leva per megawatt-hour, effectively preventing electricity bill increases. Energy Minister Zhecho Stankov emphasized the program’s dual…
The Ukrainian parliament has approved the purchase of two Russian nuclear reactors originally intended for the Belene Nuclear Power Plant (NPP) in Bulgaria. This decision came after a vote by the energy committee on January 16, which passed an amendment to a law aimed at improving the country’s business climate. The amendment specifically authorizes the…
Gas Transmission System Operator of Ukraine LLC (GTSOU) and several key organizations and companies have signed a Memorandum of Understanding to establish and support the implementation of the Ukraine-EU Hydrogen Corridor. The relevant statement was made by the company’s press service. “The signing took place with representatives from Gas TSO of Ukraine, Stadtwerke Munchen, Wien…
The mild and windy weather this winter has created a situation whereby electricity exchange prices remain close to the minimum at night, while daytime prices are set by individual generation units in Estonia. On January 14 the electricity exchange price remained at EUR 1 per megawatt-hour (MWh) overnight and rose to EUR 91 at 8…
In 2024 Bulgaria’s electricity sector faced significant challenges, with a sharp decline in exports and a rise in domestic consumption. The country’s energy production decreased by 5% compared to the previous year, largely due to reduced output from coal-fired thermal power plants. However, renewable energy sources, particularly solar power, saw notable growth. Despite producing record…
Azerbaijan has temporarily suspended natural gas supplies to Bulgaria, as announced by Bulgargaz. The interruption, which began on January 7, was attributed to technical issues. According to Bulgargaz, the supplier notified them of the disruption on January 6, with expectations that deliveries would resume until January 11. In response to the suspension, Bulgargaz swiftly arranged…
KazMunayGas, the state-owned oil company of Kazakhstan, is reportedly taking part in a tender to acquire the Bulgaria-based refinery of the Russian oil giant Lukoil, known as Lukoil Neftokhim Burgas. According to Bloomberg and 24 Chasa, which cite two sources familiar with the negotiations, KazMunayGas has submitted an offer in the ongoing sale process. If…