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President: Protection of individuals and SMEs must be a priority in EU measures addressing high energy prices

The protection of individuals and the economy, especially small and medium-sized businesses, must be a priority in the common European solutions addressing high electricity and natural gas prices, said President Rumen Radev. He participated in a videoconference call, together with other leaders of the EU member states, with European Council President Charles Michel.

The conversation took place in connection with the preparations for the upcoming European Council meeting on 21 and 22 October. One of the topics on its agenda is tackling the high electricity and natural gas prices in the EU. "Small and medium-sized companies will be the worst hit; if they do not survive the heating season, the social systems will be strained. That is why measures should be planned to protect the free market and businesses," Rumen Radev said.

The Head of State welcomed the European Commission's Communication on the issue as a good framework for identifying the priority areas where the EU should map out short- and medium-term solutions. Priority should be given to mechanisms to curb high prices and support those in need, Rumen Radev said. He also outlined the need for common European measures to reduce the price of greenhouse gas emissions.

The President noted that Bulgaria supports efforts to achieve the 2050 climate goals while maintaining a careful balance. Accelerating the transition to a green economy is unthinkable without additional financial support to ensure secure, affordable and reliable energy. Analysing carefully the current developments on the European energy market, we need to trace the link between the crisis processes and the highly ambitious targets set in the Fit for 55 package, and to ensure the transparent operation of energy exchanges, as well as to strengthen anti-corruption and anti-speculation measures, Rumen Radev concluded.