Dragomir Stoynev

The EU Commission's infringement procedure against Bulgaria over the South Stream pipeline project will not lead to sanctions, Economy Minister Dragomir Stoynev assured.

In his words, it was not any different that the previous ones launched by the Commission in the field of energy.

State-owned National Electricity Company (NEK) registered a record loss of BGN 338 M (EUR 169 M) last year, sources in the Ministry of Economy and Energy say.

The latest reports by the Bulgarian daily Trud, which cites the sources, comes after reiterated comments by Economy Minister Dragomir Stoynev that a loss of BGN 500  M (EUR 250 M) was expected at NEK for 2013.

A new energy strategy will be submitted in Parliament in June, according to Dragomir Stoynev, Minister of Economy and Energy.

Stoynev's announcement was made during the debates on the no-confidence motion against the government initiated by center-right party GERB (Citizens for European Development of Bulgaria) over its failed energy policy.

Bulgarian business will get EUR 250M boost during the new programming period 2014-2020 under OP Competitiveness and Innovation, Economy Minister Dragomir Stoynev said.

The funding will be allocated according to four major priorities, as the first one is competitiveness, which will focus on technology development and innovation, BGNES reports.

Bulgarian Economy and Energy Minister Dragomir Stoynev has predicted a coal price increase.

Speaking Sunday in the southern town of Radnevo, he said that the price of coal produced by the Maritsa Iztok Mines would go up from BGN 75 to BGN 77 per tonne of conditional fuel in the new regulatory period.

The Kozloduy NPP will be relieved of the obligation to pay dividend to the Bulgarian Energy Holding (BEH) in order to be able to cover the extension of the lives of unit 5 and 6.

Bulgaria's opposition center-right GERB party will submit a no-confidence motion against the Socialist-led government of Prime Minister Plamen Oresharski.

Bulgaria's government is preparing a new bill for attracting foreign investment, the country's Minister of Economy Dragomir Stoynev revealed.

If grid operators in Bulgaria do not comply with the law, the national energy watchdog DKEVR will suspend their licenses, Bulgaria's Prime Minister Plamen Oresharski said.

Oresharski added he had no information of political pressure applied on the State Commission for Energy and Water Regulation (DKEVR) regarding permits of power distributors, according to the website Expert.bg.

European legislation is applied to all infrastructure which is under the EU's jurisdiction, the EU Commission said on Thursday.