Energy economics

Greece has reduced the subsidies extended to consumers grappling with high energy costs to 95 million euros ($102.9 million) in February from 840 million euros in January, the energy minister said on Tuesday, citing a fall in gas prices.

"The Recovery and Resilience Plan needs to be renegotiated. I believe that with the efforts of the caretaker cabinet and the experts involved in the task, we will be able to renegotiate it in such a way that Bulgaria shows enough ambition for its path to decarbonization before the EC," said the Minister of Environment and Water Rositsa Karamfilova.

Fuel prices are expected to stay low in the coming period while there are no plans for another Fuel Pass subsidy at present, Development and Investment Minister Adonis Georgiadis said in an interview with public broadcaster ERT on Monday.

Regulated fuel prices will rise by several cents on 30 January despite a lowering of excise duties, the third time in a row that prices will increase under the administrative pricing model in place in Slovenia.

Regular petrol will be almost 7 cents more expensive at EUR 1.355, while the price of diesel is going up by almost 5 cents to EUR 1.529.

Natural gas will be nearly 30% cheaper from February and will be sold for about BGN 130 per megawatt hour without taxes and levies. This was stated by the executive director of "Bulgargaz" Denitsa Zlateva during the price discussion at the energy regulator.

She also indicated the reasons for this reduction:

Egg producers in Bulgaria expect their price to continue to rise even after the doubling of prices in the last year. The forecast is from the chairman of the Association of Industrial Poultry Breeding in our country, Daniel Bozhankov.

The world is at the "dawn of a new industrial age" of clean energy technology manufacturing that will triple in value by 2030 and create millions of jobs, the International Energy Agency (IEA) has said.

The Trade Ministry has launched a probe into the automotive market to securitize prices and supplies.

Inspectors have been appointed to look into the activities that allegedly aimed at distorting the market for new and second-hand cars, causing bottlenecks and preventing consumers from accessing vehicles, Trade Minister Mehmet Muş said on Twitter.

The trade union demonstration under the slogan "To protect the country's energy security" is taking place in front of the parliament building.

Bulgaria: Increase in Price of Gas for January, a Jump of 22.7% compared to December