European Union Emissions Trading System

The increase to be announced is at 6.5% – How 19 allowances are affected

The European Commission has initiated four infringement procedures against Bulgaria, marking a formal notice sent to the country. Bulgaria now faces a two-month window to respond to the notice, or the Commission may proceed to issue a reasoned opinion.

The EU plans to be carbon neutral by 2050, but to get there it needs to pass two decadal milestones - each implying massive adaptation by industry and consumers.

The first of those has already been set: achieving at least a 55 percent reduction in greenhouse gas emissions by 2030, compared with a 1990 baseline.

Average electricity prices for households in the first half of 2023 in the European Union are the lowest in Bulgaria (11.4 euros per 100 kWh), BGNES reported.

After a significant price increase that began before Russia's invasion of Ukraine but spiked in the second half of 2022, electricity and gas prices are stabilizing, the EU statistics office "Eurostat" said.

The EU average was 6.6%

A draft of the ETS proposal, said the supply of CO2 permits in the ETS will face a one-off reduction