On 8th of March 2018 in Bulgarian parliament was submitted a draft for an act for amendments of the Energy Act. The draft stipulates a new requirement for approval of any disposal with shares or stocks, representing more than 20% of the capital of the companies which are carrying out transfer and distribution of electrical, heat energy or gas as licensed activities by the Energy and Water Regulation Commission. Commission’s discretion shall take into account protection of deliveries, national security and public order. The amendments also provide for a right of the Commission to revoke the respective companies’ licenses in case of shares disposal without the aforementioned permission. One of the main arguments stated is to ensure that only strategic investors will be eventual buyers of energy companies, which investors will manage to guarantee the long-term development of the national energy system.
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