It is important for Europe to complete the reform of the electricity market

Decarbonisation can only increase competitiveness if managed well. This was said by the Acting Deputy Minister of Energy Krasimir Nenov during the expert discussion "The Dragi Report - the new economic policy of the EU and the prospects for Bulgaria". The event is a first-of-its-kind expert conversation with representatives of the government and Bulgarian business, organized by the dialogue platform Green Transition Forum and the Bulgarian Federation of Industrial Energy Consumers (BFIEC), which takes place in the capital's Hyatt Regency hotel.

According to the acting deputy minister, it is important that the reform of the electricity market be carried out and bring lasting benefits to consumers. According to Nenov, this depends on the successful implementation of several approaches - regional cooperation, application of new technologies and innovative solutions, expansion of intersystem connectivity, development of nuclear energy and renewable energy sources. He recalled the projects for the development of the vertical gas corridor, the participation of Bulgaria in the liquefied natural gas terminal in Alexandroupolis, the plans for the construction of new capacities at the Kozloduy NPP site, as well as the development and digitalization of the networks, which will allow the joining of new RES.

"These are just some of the possibilities, the realization of which is key to guaranteeing secure and affordable energy for consumers, and the competitiveness of the business will largely depend on their successful development," said Krasimir Nenov.

The decision to rely on innovative technologies and regional cooperation can be the key to building the new face of the European economy and, in particular, the energy sector, added Deputy Minister Nenov, quoted by BTA.

He gave as an example that the improvement of the electricity transmission network in our region requires joint efforts, deepening of cooperation and a common approach to develop adequate infrastructure. According to the Deputy Minister, the volatility of prices in recent months confirms this need. Nenov believes that the recommendations of the "Dragi" report regarding accelerated approval procedures for infrastructure projects of common European interest are also in this sense.

The Acting Deputy Minister also stated that given the role of natural gas as a transition fuel, the promotion of initiatives to remove infrastructure restrictions and increase the capacity for cross-border transmission will ensure access to sufficient quantities of gas, including liquefied natural gas. According to Nenov, this will improve security of supply, eliminating dependence on a single source. The possibility of shortening supply chains - especially of critical raw materials - is also key, added Krasimir Nenov.