Not only will there be a lot of bankruptcies, but the economy will simply stop, said Vasil Velev, Chairman of the Bulgarian Industrial Capital Association Board. He pointed out that there was no estimate of the size of the disaster. The expert told „bTV“:
„Additional measures are needed to limit the damage to the Bulgarian economy from high electricity prices. The price on the free market is already a record – BGN 482 per megawatt hour. What is being discussed as compensation is extremely insufficient – BGN 50 per megawatt hour, given that the excess is BGN 360. These are palliative and delayed measures. Bankruptcies are inevitable.“
Velev pointed out that President Rumen Radev had ordered to work in such a way as to compensate fairly not only the business but also the social sphere. He stressed that not only businesses are on the free market, but also all non-household consumers – hospitals, schools, community centres, theatres, museums and kindergartens. The Industrial Capital Association Board chairman clarified that for the previous month the bills were 2 times bigger and for October they will arrive in November and they will be 3 times bigger, adding:
„If prices continue like this, November’s bills could be as much as 4 times higher.“
The specialist said that the business insists on compensating all non-household consumers, who are 600 thousand, with 3/4 of the difference from the excess of BGN 119, which is the estimated price. According to Vasil Velev, the reason for the increase in the price of electricity is in the wrong market model of electricity.
This is exactly why today employers’ organisations and trade unions are protesting in front of the Council of Ministers. Their demands are for immediate and non-symbolic compensation for the high electricity prices.
