site.btaEnergy Minister, Representatives of French-Bulgarian Chamber of Commerce Discuss Key Energy Matters

Caretaker Energy Minister Traicho Traikov met with representatives of the French-Bulgarian Chamber of Commerce and Industry on Thursday to discuss current challenges and opportunities in Bulgaria’s energy and industrial sectors, the Ministry reported Thursday. The discussion highlighted current challenges facing businesses, as well as specific ideas for better cooperation between companies and the State and effective solutions to address the challenges of the energy transition.

One of the focal points of the discussions was the extractive industry sector, where opportunities for promoting investment were discussed. Representatives of the Bulgarian Chamber of Mining and Geology raised the issue of optimizing the process between the signing of concession agreements and the actual start of operations. Traikov confirmed that the Energy Ministry is working on implementing European practices to accelerate and ensure transparency in this process.

He highlighted the importance of the Energy System Security Fund, which plays a crucial role in providing targeted support to residential and non-residential consumers and, in particular, in ensuring the stability of the district heating sector. The issue of Bulgaria’s energy security was raised in the context of the agreements with Azerbaijan on natural gas supplies, which guarantee stability in the energy system, and the six-month extension of the derogation for Lukoil companies in the country. 

As for nuclear energy, Framatome’s commitment under the existing contracts for the supply of nuclear fuel to the Kozloduy Nuclear Power Plant (NPP) was confirmed. In the sector’s development, the State will support Bulgarian participation in the implementation of future nuclear projects, Traikov emphasized. “As part of the negotiations for new capacity at the Kozloduy NPP site, a requirement has been established for the maximum involvement of local companies and labor. I expect Bulgarian firms to participate as subcontractors in construction, engineering, supply, and installation, which will preserve national industrial and expert potential and ensure knowledge transfer through cooperation with international partners," he noted.

The transformation of the energy sector was also a focus of the discussion. Within the framework of the revised EU Emissions Trading System Directive (EU ETS), the business community expressed concerns regarding the allocation of funds from the Modernization Fund.

Part of the meeting was devoted to ambitious plans for renewable energy sources. Bulgaria is actively developing new projects for pumped-storage hydroelectric power plants, with ten new locations already identified, according to a statement from the Energy Ministry.