Crucial intelligence to understand the changing dynamics of the Bulgarian energy market
Bulgaria’s once vertically integrated market is undergoing a liberalisation process which will see an increase of competition in the market. Simultaneously, Bulgaria’s large and aging coal fleet is experiencing strong pressure from rising CO2 costs, pushing it into retirement. Increasing power prices are seeing a push for the transformation of the Bulgarian power system, favouring competitive technologies such as wind and solar, while nuclear development is also on the table. Capitalise on emerging opportunities with our services, keeping up-to-date with market trends and evolving policies.
What you need to know about the market
- Bulgaria makes the most of its geographical position by being a net electricity exporter within Southeastern Europe, as the country is interconnected with all of its land-neighbouring countries.
- The Bulgarian government supports the development of grid-scale battery storage facilities located near renewable generating capacity. This is due to the increasing need for ancillary services, currently handled via small combined cycle power plants.
- The country’s Recovery and Resilience Plan, set in motion in 2022, focuses on investments in renewable energy sources, hydrogen, electricity storage and interconnection capacities.
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