Financial and business news from Bulgaria

Five lies saw Temenuzhka Petkova in the statement of her successor in the energy

Do not stabilize stabilized, she urged

Former Energy Minister Temenuzhka Petkova responded to her successor - Minister Andrey Zhivkov, a few hours after his statement on the state energy.

She saw at least five lies in his claims.

BEH is at BGN 250 million profit, not at a loss. I do not know what will stabilize the caretaker minister, but to lie blatantly that the state energy is in collapse, I cannot agree, she said at a briefing at GERB's headquarters and described his claims as “a series of lies with which only panic and suggestion is made”.

She urged Zhivkov to read the ratings of the international credit agency “Fitch” for BEH, which twice increases the credit rating of the holding.

The other lie she saw was about the state of the NEC. Petkova said that when she took over energy management in 2018 the company was at a loss of £586m. Last year it was at £246m profit.

On the occasion of the state of the Maritsa-East 2" TPP and the mines, the former energy minister sent his colleague to read the EC documents on climate neutrality by 2050. He also stressed that all councils in Brussels are always protected Bulgarian coal plants because without them our electricity system will not stand.

In addition, there is a decision by parliament last year which obliges to ensure the security of coal plants.

Petkova said that the big lie is about “Balkan Stream”. The caretaker minister said there are reasonable doubts that the investment of BGN 2.5 billion will pay off in 10 years. She sent Zhivkov again to read eurodirectives and said that in the procedure every letter of the European legislation was saved. And as for the return, it is determined by the EWRC and calculated for 10 years.

Balkan Stream infrastructure has life not only for the time of the contract but is 35 years, she said.

The other big lie is about the Bulgarian-Greek interconnector, her successor heard that 20 years it did not happen.

The only thing from the words of the Minister Petkova agreed with is the short life of this cabinet and advised them to do the job, which is to hold elections.

And as for the stabilisation of the sector, fortunately, it is stabilised, she said.