Energy Security and the Eurozone: A Key to Prosperity in Burgas

BURGAS – Energy security and financial stability are at the core of every household's prosperity, and their mutual interdependence became a central topic at a national-scale event in the coastal city. Minister of Energy Zhecho Stankov stated that sustainable energy is closely related to the well-being of citizens, as if it does not work stably, it directly affects their financial capabilities and purchasing power.

The minister's statement was part of the opening of the national information campaign for the introduction of the euro, which took place at the International Congress Center in Burgas. In front of a large number of representatives of institutions and public figures, Stankov emphasized the state's decisive and stable approach to the introduction of the single European currency. He assured that this transition is designed to provide peace of mind to citizens regarding their incomes and savings.

Regulated market and low bills – a shield for households

Minister Stankov highlighted the key role of the regulated market for residential consumers, stating that its preservation guarantees sustainably low electricity bills. He supported his claim with a specific example: in July, the average electricity bill in the country was around 60 levs (30.68 euros). According to him, this bill would have been 46% higher if the agreement protecting the regulated market had not been reached. These data, Stankov pointed out, position Bulgaria, along with Hungary, among the leading countries in the European Union with the lowest electricity price for households.

"These are not empty words - this is a real protection for every Bulgarian family", the minister noted, emphasizing the direct link between joining the eurozone and the positive results in the energy sector.

Financial benefits from the eurozone

The energy minister explained that after the publication of the positive convergence report, Bulgaria was able to enter the international financial markets and achieve a significantly lower cost of borrowed capital. According to him, financing costs have fallen by 20%, which directly affects the bills of end consumers. The lower the financing costs for the energy sector, the lower the bills, he summarized.

This financial benefit is particularly important in the context of the government's strategic energy projects. Stankov recalled that the construction of the 7th and 8th units of the Kozloduy NPP has been assigned as a key priority. The minister emphasized that talks with partners such as Westinghouse and Hyundai, as well as with international banks, clearly show that membership in the eurozone will reduce the fees and interest rates on the financing of these large-scale projects threefold.

Support for business and future perspectives

The Minister of Energy also focused on measures aimed at supporting businesses. In cooperation with employers' organizations, a mechanism based on the new European directive is being developed. This mechanism will guarantee compensation for half of the energy used by enterprises, which aims to prevent the transfer of high energy prices to goods and services. Stankov explained that this is key to maintaining the competitiveness of Bulgarian business on world markets.

In conclusion, Minister Zhecho Stankov expressed confidence that the commitment of the Prime Minister, the entire government, state and municipal institutions, as well as social partners, is a guarantee of a successful and correct transition to the euro on January 1. He called this event a positive step that will remain in the new Bulgarian history. In the hall, filled with the energy of anticipation, the minister's words were met with attention and visible approval, as they outline a path to financial stability and economic growth in key sectors.