AmCham Energy and Mineral Resources Committee supports the Government and KEVR which in the last months have taken important steps in a positive direction in order to reform the Bulgarian energy sector. The long-term reforms in the energy system should be based on the principles of transparency, predictability and sustainability, and in particular should strive to: maintain an independent energy regulator, stabilize and strengthen the regulatory environment and address the deficit and liquidity of the sector.
The American Chamber of Commerce in Bulgaria expresses its support to KEVR in its efforts to act as an independent regulator, and in making decisions that ensure transparency and financial stability in the system. We emphasize that KEVR’s main task should be ensuring the legitimacy of the sector and the security of the energy system, while discontinuing the practice of unequal treatment of market participants and cross-subsidization of certain producers and consumers (household and / or corporate).
The energy sector has an essential role for Bulgaria’s economic development. It is therefore extremely important to provide long-term viability of the NEC and all participants in the process of production and distribution of electricity. The Government and KEVR should ensure their financial stability so as to fulfill their financial obligations and to overcome the heavy inter-company indebtedness in the sector. NEC and network operators’ revenue set by the Energy Regulator should be sufficient to cover operating costs and the investment requirements to provide the services and the proper functioning of the electricity system in the country.
We also believe that ensuring KEVR’s independence for stabilizing the financial sector and NEC is the right way to a modern energy market liberalization.