Bulgaria is generating millions of leva in additional revenue due to the ongoing Danube crisis, as the regional energy market has reacted to the situation with higher electricity demand and exports, Energy Minister Iva Petrova said.
Speaking to NOVA, Petrova said Bulgaria is currently exporting between 32,000 and 33,000 megawatt hours of electricity per day, with the record levels driven by the situation in neighboring countries. She stressed that the country’s strong electricity interconnections with the region allow it to take advantage of the market conditions.
The minister said she recently visited the Kozloduy Nuclear Power Plant, where the critically low water levels of the Danube are being monitored continuously.
“Two days ago I visited the Kozloduy NPP and indeed the Danube levels are record low. The teams on site are monitoring the situation around the clock. The power plant is currently operating without problems,” Petrova said.
According to her, the situation remains dynamic, but if the river level stays close to its current levels over the next week and a half, the energy system will continue to function normally. She assured that Bulgaria has enough capacity to cover domestic consumption, including thermal power plants, battery storage systems and other available resources.
Petrova highlighted the rapid development of battery energy storage in Bulgaria, saying the country has introduced more than 6 gigawatts of battery systems in less than a year. She added that investments under the Recovery and Resilience Plan have helped strengthen the system, especially during periods of peak demand.
“They help us a lot, especially during morning peaks,” the minister said.
Regarding the protocol between Bulgargaz and the Turkish company Botas, Petrova said the document would not be made public because it is covered by confidentiality clauses between the two commercial companies.
“This is an agreement between the two companies and falls within the scope of confidentiality clauses. With it, the parties give each other time to reach agreements that will maximize the possibilities of the contract,” she explained.
Petrova also said Bulgaria will continue to follow the European policy of reducing dependence on Russian natural gas. According to her, the country has clearly defined rules and remains in constant dialogue with the European Commission.
“We only registered the trade agreements between the Turkish company and the other companies,” she said.
The energy minister also commented on the exploration permit issued for the Khan Tervel block in the Black Sea. She explained that the permit allows companies to search for oil and natural gas for five years but does not grant rights for exploitation.
“Within these five years, the companies will invest to establish whether there is actually natural gas and oil. If they are discovered, then there will be new agreements. No exploitation rights have been granted,” Petrova said.
She identified the debts of Toplofikatsiya Sofia as one of the main risks for Bulgargaz’s financial situation. According to Petrova, the heating company owes more than 1.2 billion leva to Bulgargaz and the Bulgarian Energy Holding.
The minister said she expects stricter oversight from the Energy and Water Regulatory Commission regarding repair programs and the fulfillment of the obligations of the capital’s heating company.
Petrova also spoke about an audit at Kozloduy NPP, which she described as revealing concerning findings. According to her, the inspection found land valuations reaching around 1,600 euros per square meter, including plots she described as “bare meadows.”
She said the inflated valuations were linked to property transfers involving Kozloduy NPP – New Power Plants and a planned acquisition of a private property of around 600 acres owned by Interprom.
“The whole story begins in July 2025 with a request by Kozloduy NPP – New Power Plants to acquire this property. There were sanctions from the then management of BEH and the Minister of Energy, and funds were even transferred to implement the deal,” Petrova said.
The minister added that she had submitted a report to the competent authorities. According to her, the transfer of properties at artificially high valuations created so-called hollow capital and later caused difficulties in certifying the company’s financial statements.