At a major energy forum in Sofia, discussions focused on the future of the sector, the country’s sustainable development, and strategic projects for security and independence. Prime Minister Rosen Zhelyazkov, Vice President Iliana Iotova, as well as the ministers of energy and finance, were among the participants. Attention was drawn to the key elements of Bulgaria’s energy mix, the optimisation of consumption, and the role of nuclear energy as a base resource, providing around 50% of production. Zhelyazkov once again highlighted the contract with “Botas”, which, over its 13-year duration, could cost the state more than 6 billion BGN.
Large-scale industrial projects, such as the construction of the 7th and 8th units at the Kozloduy Nuclear Power Plant, were emphasised as strategically important and expected to lead to significantly accelerated economic growth.
Infrastructure projects were also in the spotlight – interconnectors with Greece, links with Serbia and Romania, LNG terminals, renewable energy parks, and smart grids. It was noted that all of these are of key importance for the country’s energy security and for Bulgaria’s role as a regional player in South-Eastern Europe.
One of the central points in Prime Minister Rosen Zhelyazkov’s address was the contract with the Turkish state energy company “Botas”, which he described as a wrong decision that, over 13 years, could cost Bulgaria more than 6 billion leva.
Rosen Zhelyazkov, Prime Minister: “I leave aside the political context, I leave aside the legal issues related to this contract, but it is a problem because at present it has burdened Bulgargaz with over 600 million, which Bulgargaz cannot pay off. In other words, we are faced with a structural element of our energy sector that carries the serious risk of insolvency.”
Zhelyazkov further stressed that, at present, on one side of the scale lies the future of Bulgargaz, and on the other, the way in which the country’s economy functions under political decisions.
Vice President Iliana Iotova underlined that Bulgaria should not think of itself as a peripheral state, but as an active participant in European decision-making, while also articulating the specific interests of Bulgarian citizens. She highlighted the need for sufficient electricity supply.
Iliana Iotova, Vice President of the Republic of Bulgaria: “Let me remind you that Bulgaria was one of six countries selected by the European Commission for the construction of a gigafactory, which will indeed require enormous amounts of electricity.”
Photos by BTA
Iotova also explained what meeting all commitments by 2050 would mean for Bulgaria.
Iliana Iotova, Vice President of the Republic of Bulgaria: “There must be a clear and categorical answer as to what our energy mix will look like and which energy source will dominate it. Equally important is the issue of optimising consumption. I do not know why in Bulgaria the future of thermal power plants is being neglected, as if the matter has already been closed, but I do not believe that is the case.”
The Vice President added that, in reality, a strategic vision for the sustainable development of the electricity sector has not yet been adopted by the National Assembly.
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