Letter from Telenor to customers addressing the indexation

Dear Telenor Customers,

I am writing to you to express my anxiety about the economic situation in Bulgaria and across the globe. Increased inflation has impacted purchasing power for everyone. Businesses within our country are no exception and have also experienced significant increases to their costs of goods and services. For example, Telenor’s electricity expense alone has seen a double digit percentage increase this year as compared to 2021. Other costs including postage, courier services, retail and security expenses to name a few have increased in some instances by up to 20%.

With over 1800 employees, we must act as a responsible employer to maintain continuous and stable business operations. As a major Bulgarian business, Telenor prides itself on professionalism and integrity.

In light of these facts and after much consideration, we have taken the difficult decision to invoke an inflationary adjustment allowance within customer agreements, so that we can maintain the same high-level of service quality and customer experience as we move forward. Based on discussions with regulatory bodies in November last year, we maintain that our initial decision to apply indexation during Dec 2021 and during Feb 2022 was lawful. Nevertheless, in February we will adjust the monthly fees with 2021 NSI inflationary figure due to be released on January 18, 2022. I expect that in real terms this will be around a 1 leva increase to your monthly bill.

I appreciate your understanding as we go through this tough period together and I sincerely thank you for your patronage.

Yours truly,
Jason King
CEO, Telenor Bulgaria

More information on indexation