National Electricity Company

Lukoil Neftochim Burgas, the largest crude oil refinery in Southeastern Europe and the largest industrial enterprise in Bulgaria, retained its third position in the latest annual ranking of SeeNews released on Tuesday.

The company which specialises in the production of fuel, petrochemicals and polymers retained its ranking from 2013.

The Bulgarian Energy Holding (BEH) has launched a procedure to pick a lender that would help it pay off part of its debts.

BEH, a structure managing state-owned assets in the energy sector, is now committed to make the payments under a deal with the AES and ContourGlobal thermal power plants which was reached in the spring.

The Bulgarian Energy Holding (BEH) is now considering options to pay off debts to the AES and ContourGlobal thermal power plants, Bulgarian Energy Minister Temenuzhka Petkova has said.

Speaking to reporters, she added the BEH would launch a procedure to secure funding by the end of text week.

Bulgarian Energy Minister Temenuzhka Petkova has said that state-owned companies in the sector will be able to save some BGN 20 M in 2015.

In an interview with the Bulgarian National Television she has reminded of the government's commitment to cut expenditures there by 10% every year until 2017.

Bulgarian energy watchdog head has said he won't step down amid calls from employers' unions which have demanded his resignation over a hike in power prices for industrial consumers.

Bulgarian Prime Minister Boyko Borisov has criticized employers' organizations over their demand that a hike of electricity prices for industrial consumers be postponed.

Power prices for industries are set to rise by 15-20% from August, and the national energy regulator KEVR is to officially confirm the move on Friday, July 31.

Business unions in Bulgaria say more than 1000 companies are to protest in 28 cities across the country against a planned hike of power prices.

Electricity bills for industrial consumers are set to go up by 13-20% from August 1, after a long dispute between the national energy regulator and businesses.

More than 1000 firms will participate in a protest against the planned hike of electricity prices for businesses, which will take place in 28 Bulgarian cities on Wednesday.

The largest protest will be held in the capital Sofia with 5000-6000 people expected to attend the demonstration in front of the building of the Council of Ministers.

Amendments to the energy sector put forward by the government of Bulgaria contravene EU directives and the so-called Juncker Investment Plan, renewable energy producers say.

Energy regulator KEVR's head Ivan Ivanov has said that his agency will not backtrack on plans to increase power prices for industrial consumers by up to 20%.