Iva Petrova: Energy transition needs to be smooth and cost-effective

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Our country's long-term ambition is to increase the share of renewables, including hydrogen and biogas, as well as to lead a pro-active nuclear energy policy

“In the constantly changing global challenges, the most pressing issues that we face are carrying out energy transition and achieving carbon neutrality,” Deputy Energy Minister Iva Petrova said at the 4th Sofia Economic Forum. “Bulgaria is actively working towards meeting the European ambition of climate neutrality by 2050”. Being conscious of the seriousness and urgency of this challenge, the energy transition must be done smoothly and cost-effectively. According to Deputy Minister Petrova, although the challenges are global and shared, the decisions taken at national level must reflect the specificities of the energy system and the national potential and resources available.

“In this context, Bulgaria maintains a proactive and sustainable approach that assigns a key role to nuclear energy in these processes,” Iva Petrova said. In her opinion, our country has a clear long-term ambition to increase the share of renewables in the energy mix, including hydrogen and biogas. “The Government has adopted a National Hydrogen Roadmap outlining our faith in hydrogen's transition potential, as well as the need to find concrete solutions,” Iva Petrova added.

Within the framework of the Economic Forum, the Deputy Energy Minister indicated that the National Integrated Energy and Climate Plan has a clear path to reduce the share of fossil fuels. According to the assumed scenario, total consumption of solid, liquid and gaseous fossil fuels is expected to decrease almost by half in 2040 compared to 2020. The draft plan that will reflect the recommendations and objectives set by the European Commission is currently updated.

“Achieving a climate-neutral sector goes hand in hand with our efforts to ensure the security, reliability and affordability of energy supplies to citizens and businesses,” Iva Petrova was unequivocal. She identified the range of initiatives in which our country participates, as well as the interconnectivity, as key conditions for guaranteeing the energy security of Bulgaria and the whole region of Southeastern Europe.

According to Deputy Minister Iva Petrova, a number of strategic decisions need to be taken that should later be implemented in concrete actions. “Energy transition is a process of deep social and overall economic transformation,” she added. It is of the utmost importance to change the behaviour of all market participants and the management models. As a successful example, the Deputy Minister gave the solutions that are formulated on a network basis in so-called ecosystems where a wide range of stakeholders take part.

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