Balgarianovinite.com The government has devised a targeted, cost-effective and efficient mechanism to offset high fuel prices, caretaker Energy Minister Traicho Traikov said in a television interview on Saturday.
The scheme will be activated as soon as fuel prices reach the threshold of EUR 1.6 per litre, Traikov added.
Traikov also recalled that the measures taken and being taken by European Union Member States against high fuel prices varied, from ones aimed at a psychological effect, as in Germany, to Bulgaria’s measures, which were targeted and limited in time. He said the model adopted by Bulgaria had been recognized as the best practice by his counterparts at the Energy Council earlier this week.
Speaking about the mechanism chosen by Bulgaria, Traikov added that it was also linked to higher fiscal revenue from excise duties as a result of rising prices.
On the possibility of other measures, he said excise duties in Bulgaria were already the lowest and could hardly be reduced, but a cut in VAT on fuels was a possible fiscal measure which, unlike the steps taken for the restaurant sector, would be more effective in lowering prices for the end customer.
Traikov insisted that funds were available to implement the compensation mechanism.
He also provided information about fuel mark-ups. He said prices in Bulgaria were currently among the three lowest in the EU and that mark-ups along the supply chain were being monitored by the National Revenue Agency and the Commission for Protection of Competition.
“When market players know they are being watched, the chances that they will make arbitrary attempts to raise prices sharply are smaller,” he said.
On the possibility of releasing fuels from the state reserve, Traikov argued that the purpose of the reserves was to provide fuel in the event of shortages, not when prices were high. He also pointed to the lack of effect from the decision by members of the International Energy Agency to release reserve quantities. He said much larger-scale market intervention was needed for such a step to produce results. Asked whether a partial lifting of the ban on Russian oil was a solution in the current situation, Traikov said the problem was not a shortage of crude oil, but uncertainty and logistical problems and the resulting higher transport costs, which also made Russian oil more expensive.
Traikov also answered a question about the arbitration case filed by LITASCO against Bulgaria, which had already been initiated. He said he hopes Nulgaria’s position was solid enough given the way the state had appointed the special manager of LUKOIL’s assets in Bulgaria, and that the legal teams at the National Assembly had taken into account the possibility of claims when preparing the legislative initiative. He also recalled that Bulgaria, for its part, was pursuing arbitration against Gazprom over the suspension of supplies in the spring of 2022.
On Kozloduy NPP and the unplanned shutdowns of Unit 6, Traikov said he had issued an ultimatum to the management of the nuclear power plant that he would make drastic changes if there were further problems after the latest replacement of the membrane units that had caused the previous interruptions. Unit 6 is currently operating at 100% capacity, Traikov added. Caretaker Energy Minister Traikov: Fuel Compensation Starts at EUR 1.6 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-03-21 23:40:54 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law