The Minister of Energy Vladimir Malinov will submit a proposal to the Council of Ministers on Monday to extend the program for compensation of businesses for high electricity prices by three months. He said this himself after a meeting with representatives of employer organizations, Nova TV reports.
„We are ready to compensate for this deficit from the program for December last year. Such a draft documentation has already been developed for the Council of Ministers. Thus, on Monday next week, we will be ready to submit a draft decision to the Council of Ministers to extend the program for the first quarter of 2025“, Minister Malinov further explained.
We recall that employers are urging the government to accelerate the adoption of the program for compensation for the extremely high prices of electricity and have warned of a protest on January 15 in front of the National Assembly and the Council of Ministers. Tensions among businesses are growing due to the surge in prices over the past year. The result, they say, will be a surge in inflation after the rise in the price of all goods and services. Electricity prices for businesses in recent months have exceeded 250 leva per megawatt-hour and are now reaching 300 leva. The program to compensate employers for their expenses meets the understanding of the authorities, but due to the lack of a budget, it was not approved.
„We talked with GERB-SDF, PP-DB, „DPS Novo nacholi”, „BPS – United Left”, „Democracy Rights and Freedoms – DPS” and ITN. We met with full understanding in their person. There is uncertainty in the business and budgetary sphere. This could lead to a new spike in inflation. In the absence of compensation, enterprises will calculate them in the prices of manufactured products and services. Or they will limit production and workers' wages. This 3-month compensation allows for predictability of the price of electricity at least during this period,” said Vasil Velev, Chairman of the Board of the Association of Industrial Capital in Bulgaria.
He appealed to businesses not to rush into calculating the new higher prices, as this would lead to a deterioration of the economic environment. Velev explained that employers remain prepared to protest, expecting parliament to confirm the regulations. Minister Malinov also called for patience.