Bulgaria replaces management of state energy holding BEH

Energy Minister Iva Petrova has announced a sweeping overhaul of the management of Bulgarian Energy Holding (BEH), citing the need for stronger governance and tighter financial oversight in Bulgaria’s energy sector.

The newly appointed Board of Directors includes Andrey Zhivkov, Ilza Chinkova, Ivo Todorov, Petar Angelov and Vasil Vasilev. According to Petrova, the changes are aimed at improving transparency, operational efficiency and financial discipline within the state-owned holding company.

The management reshuffle follows an inspection by the Energy Ministry that uncovered delays in major sector reforms and shortcomings in investment programmes. The ministry warned that the setbacks have jeopardised more than €1 billion in financing under the EU’s Recovery and Resilience Plan and the Territorial Just Transition Plans.

Petrova also announced forthcoming audits at several key state energy companies, including Kozloduy NPP – New Capacities and Mini Maritsa-Iztok, alongside BEH.

In parallel, the government is preparing amendments to legislation governing the energy sector, energy efficiency and renewable energy sources.

Wholly owned by the Bulgarian state, Bulgarian Energy Holding is the country’s largest state-owned enterprise by assets. The group oversees companies involved in electricity generation and transmission, natural gas transit and storage, as well as lignite coal mining.

Edited by Miglena Ivanova