Employers and unions plan to protest if mechanism for compensation for high electricity prices is not established

Employers and trade unions plan to protest on January 15 if a mechanism to compensate for the record-high electricity prices for non-household consumers is not established by then.

Motorway blockades are also being considered as part of the protest actions.

"Without compensation - it means businesses become uncompetitive. It means that those who can will pass the high prices on to the prices of manufactured goods and services and from there cause inflation. Those that sell on international markets and cannot do so will close down and restrict operations to only the most profitable products, which will lead to staff cuts," said Vasil Velev, chairman of the Industrial Capital Association.

"Lack of adequate support for businesses affects not only companies but also their employees.The high price of electricity is a direct threat to the financial stability of enterprises - it leads to a shrinking of costs, freezing of spending not only on investments. This reflects on the possibility and hinders the increase of wages, which is extremely unacceptable for the trade unions", added Todor Kapitanov of the Confederation of Independent Trade Unions of Bulgaria (CITUB).

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