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From Bulgaria

06.08.2014 14:02

New Bulgarian Energy Minister to Establish Energy Council

Interim minister Vasil Shtonov promised a thorough audit of large projects such as South Stream and the new nuclear unit at Kozloduy

AUTHOR: Lyudmila Zlateva

Vasil Shtonov (left) takes over from ex-minister Dragomir Stoinev
© publics.bg

An energy board, or rather an energy council, will be introduced in order to bring transparency to Bulgaria’s energy sector, new interim energy minister Vasil Shtonov announced Wednesday during the official inauguration ceremony.

Despite the fact that his predecessor Dragomir Stoynev advised him against the inclusion of representatives of the “renewable energy sector and private energy monopoles”, Shtonov vowed to attract a vast number of sector representatives and the energy regulator. The ministry will also seek the support of international institutions such as the European Bank for Reconstruction and Development (EBRD) and the World Bank.

Spending of European funding will also be a major point of Shtonov's work, as Bulgaria came into scrutiny cut over alleged money allocation breaches in OP Competitiveness.

Audit of the Energy Sector

The caretaker government will have to conduct a thorough audit of all activities of the resigned Oresharski cabinet, including energy megaprojects such as South Stream gas pipeline and the construction of a new nuclear unit at the site of Bulgaria’s Kozloduy NPP.

“Decisions for large energy investments should be made in full transparency”, minister Shtonov said.

A problematic energy heritage

Ex-energy minister Dragomir Stoinev outlined five major issues in the energy sector – the support and balancing of renewable energy, the financial situation at the state incumbent NEC and the preservation of its mother-company - the Bulgarian Energy Holding, but also the creation of a working power exchange and the accomplishment of the balancing energy market which kicked of in June of this year.

“I thought there were at least fifty such issues”, Shtonov commented ironically, adding that he would need several weeks to get acquainted with the actual state of the energy sector before taking any actions.