Radev vetoes changes to Energy Law
President Rumen Radev has vetoed changes to the Energy Law that was voted on weeks ago and adopted by Parliament.
The President is against the Energy System Operator (ESO) settling a time interval of one hour for sale of electricity on the energy exchange until the end of 2023. ESO neglected the mandatory 15-minute interval and returned the settlement carried out at a time interval of one hour at the end of last year.
The amendments to the new Energy Law do not abide by general European regulations and Radev is concerned that non-compliance would have blocked crucial EU funding.
AMPECO wins further funding
Bulgarian software company AMPECO has attracted a new investor, in the shape of the BMW Group, for its growing business.
AMPECO specializes in the booming electric mobility services sector. Since its founding five years ago, it has attracted hundreds of customers internationally for its charging station management software platform. The new funding will help expand the business and enable it to enter the US and new markets.
The venture capital fund of the BMW Group, BMW i Ventures, will contribute 13 million dollars. This means that the total amount of funding received so far is 16 million dollars, because 3 million dollars have also been obtained from the Bulgarian fund LAUNCHub Ventures and the German Cavalry Ventures.
Two parties oppose US nuclear plant
BSP will join the initiative of pro-Kremlin party Vazrazhdane to appeal to the Constitutional Court because of Parliament's decision obliging the government to seek American agreement to construct a new nuclear power plant in place of Kozloduy NPP.
Earlier, at a briefing in parliament, the pro-Kremlin party of Kostadin Kostadinov described parliament's decision as "illegal, unconstitutional and lobbyist". Vazrazhdane and BSP are the biggest advocates of building the new nuclear plant in Belene, the plan which has been linked with Russian energy interests over the years.