site.btaNEK CEO: Unification of All Energy Market Segments Is Key Trend

NEK EAD Board of Directors member and Executive Director Martin Georgiev told Capital's Energy Summit 2024 in Sofia that the unification of all segments of the energy market is a key trend. He added that in the middle of 2024 many countries will join the European platforms MARI and PICASSO, which will unite balancing energy markets. 

Georgiev drew attention to the fact that in Bulgaria balancing energy is constrained by a price cap. "This marginal price has been raised a bit, but it is still lower than the levels that stimulate investment," Georgiev said. According to him, that is the reason why there is no private investment, because the market environment does not predispose to it.

Georgiev believes that the problem will be solved with the unification of all market segments and Bulgaria will quickly catch up because there are many battery projects to provide these system services. NEK is also involved with the continued development of pumped storage facilities, he said.