Dr. Vasil Todorov, General Secretary of the BCCI took part in Regional Approach 2023 in Sofia

Dr. Vasil Todorov, Secretary General of the Bulgarian Chamber of Commerce and Industry, took part in the first energy conference for 2023 of the Regional Approach series. The event was organized by the Energynomics communication platform and magazine, with an orientation to the energy business in Romania and neighboring countries.

The event was opened and moderated by Gabriel Avakaritei, editor-in-chief of Energynomics. Greetings were given by Aurelia Domniceanu, Minister Counselor at the Embassy of Romania in Bulgaria.

Vasil Todorov was among the key speakers at the conference, and in his speech he emphasized key aspects in the positions of the Chamber of Commerce and Industry concerning the electricity and gas markets.

The General Secretary of the BCPP pointed out the positive aspects of the compensatory mechanism against high electricity prices, which helped limit inflationary processes, prevent mass bankruptcies of enterprises, and created predictability for the possible maximum prices of this resource in the short term. Of course, an important prerequisite for the implementation of this mechanism is the fact that Bulgaria is a net exporter of electricity in the region and the high profits of the state energy companies fed the compensatory mechanism with funds, without burdening the state budget with payments.

Vasil Todorov informed the participants of the forum that it is necessary to develop a similar compensatory mechanism against high prices of natural gas, since in this way the enterprises that use gas as the main raw material will be fairly compensated. In recent months, there has been a permanent downward trend in natural gas prices, and for the month of May the price is planned to reach BGN 80 per MWh, but it cannot yet be established that this movement is a permanent and sustainable trend in the gas market .