Energy committee decision could lead to the loss of €437m in recovery funds

A decision by the parliamentary Energy Committee could put €437 million in funding under the Recovery and Resilience Plan (RRP) at risk.

The committee adopted a measure barring Energy Minister Traycho Traykov from taking steps to change the structure of companies within the Bulgarian Energy Holding (BEH), BNR reporter Yuliyana Kornazheva said.

Earlier, Traykov said he planned to remove the Maritsa East Mines and the Maritsa East 2 thermal power plant from the holding.

The proposal’s authors said state-owned energy companies organised as holdings concentrate significant assets and perform functions vital to national security, energy independence and sustainable economic development.

Trade union leader Dimitar Manolov said removing the two companies would effectively end coal-fired power generation.

“That is their concern — to secure jobs in coal plants, prevent their closure and safeguard BEH and energy security,” said Pavela Mitova, chair of the parliamentary energy committee from ITN.

Traykov said the committee’s decision would hinder Bulgaria’s ability to secure €437 million under the RRP.

Editor: Diana Tsankova