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UPEE: Urgent business support measures or serious bankruptcies

There is no sector of public life that is not affected and subjected to the price pressure of electricity, said the Secretary General of the Union for Private Economic Enterprise.

The state must take urgent measures to support business in connection with electricity prices and the expected tightening of Covid measures, otherwise we will face serious bankruptcies. This was said by the Secretary General of the Union for Private Economic Enterprise Maria Petrova at the press conference of nationally representative employers’ and trade unions. At it, employers gave a clear position against the drastic increase in the price of electricity for non-domestic consumers and details of the nationwide protest, which will take place on October 19th (Tuesday) in Sofia.

Maria Petrova

Over 600 thousand non-domestic subscribers are subjected to a price shock – not only large and medium-sized industrial enterprises, but also small businesses. These are hospitals, schools, nurseries and kindergartens, water companies, theaters, museums and other cultural institutions, state and municipal departments and enterprises and other consumers.

Most of the companies in Bulgaria are small or medium and operate as outsourced companies. This also binds them to pre-agreed prices. They have the biggest shock. They moved from a regulated market to a free electricity market and while learning how to act and how to approach, they were subjected to this price shock, commented the UPEE.

The position of employers’ organizations, including the Union for Private Economic Enterprise, is that current levels of electricity prices for non-household consumers are unaffordable for most businesses. They are three times higher than the EWRC’s forecasts and four times higher than last year’s.

The Union for Private Economic Enterprise is demanding compensation for every non-household electricity consumer, so that the price of electricity for industry is at least close to that of a regulated market. Employers require help to be immediate, adequate and fair.