(ANSA) - TRIESTE - In the context of energy reforms, Bulgarian Government decided to establish the Energy Board as a permanent advisory body to the Council of Ministers, Bulgarian News Agency, Bta, reported. The aim of the Board is to increase transparency and market efficiency in the country's troubled energy sector.

"The Energy Board must launch an urgent analysis of the reasons for the current state of the sector, suggest principles and guidelines for its sustainable development, and identify measures for overcoming the imbalances in the system", Deputy Prime Minister in charge of Economic Policy and Regional Development, Ekaterina Zaharieva, said at a news conference.

The data available on the energy ministry's website shows that the debt of the Bulgarian National Electricity Company (NEK) amounted to 885.8 million leva (EUR 453 million) in the beginning of January, while it rose to 1,1 billion leva (EUR 577 million) by the end of July.

In a letter sent to the Bulgarian energy ministry last April, the EU Commissioner for energy, Gunther Oettinger, wrote that the Bulgaria's energy regulator was not impartial in exercising its powers, and that the single-buyer model coupled with artificially low consumer prices should be reformed in order to avoid further growing losses. (ANSA)