Euro Adoption to Boost Bulgaria's Energy Sector
Energy Minister Zhecho Stankov said in an interview with bTV that Bulgaria’s adoption of the euro will benefit the energy sector by improving access to European funds for major projects like Kozloduy NPP’s units 7 and 8, as well as two planned pumped-storage plants in the Rhodope Mountains, CE Report quotes BTA
He assured that joining the euro area won’t raise fuel or electricity prices. Electricity prices for households will remain fixed until June 30, 2026, based on the BGN to euro conversion rate of 1.95583. Stankov emphasized that this will prevent any price increases.
On fuel prices, the Minister noted that they are determined by market forces and won’t be affected by euro adoption. He also stated that liberalization of the household electricity market will only occur if prices become more favorable than current regulated rates.
Regarding the agreement with Turkey’s BOTAS, Stankov said his ministry is working to address challenges since the deal lacks a termination clause and burdens the Bulgarian energy sector.
