Bulgaria's Energy Watchdog to Become Parliamentary Structure

Vasil Shtonov, caretaker Energy Minister, has informed that the State Commission for Energy and Water Regulation (DKEVR) may be moved from the government to Parliament.

Shtonov made clear at a Friday press conference that the proposal was still being discussed and it could only be implemented by an ordinary government.

He underscored that the measure was aimed at increasing the independence of the entity and boosting its expert capacity.

Shtonov, as cited by the Bulgarian Telegraph Agency, said that one of his goals would be to increase the efficiency of state-owned energy companies, adding that it involved senior-level reshuffles.

He announced that the deficit in the energy system amounted to BGN 3B and it kept growing by BGN 500-600M a year.

Bulgaria's caretaker Energy Minister underscored that the deficit would keep snowballing until the authorities took urgent steps to solve the problem.

He argued that the country's energy strategy had to be revised in order to minimize losses in the medium term and to allow the start of repayment of liabilities accumulated over the past 4-5 years.

He said that the first steps for the creation of an energy board would be taken in the next few weeks, adding that it would guarantee that the opinions and recommendations of all market participants had been taken into consideration.

As regards the South Stream gas pipeline project, he noted that it would be beneficial for Bulgaria to implement it, taking into account that it entailed a negligible risk for the state.

Shtonov explained that the authorities were working to make the gas pipeline project compatible with EU law and as favorable as possible for Bulgaria.

He assured that Bulgaria had no reason to fear a...