Energy Minister holds talks with French ambassador to Bulgaria

SOFIA, Apr 5 (BTA/APP): Energy Minister Traicho Traikov met with French Ambassador to Bulgaria Marie Dumoulin to discuss key energy challenges, including electricity prices, energy connectivity, and EU policies, the Ministry said on Sunday.

During the meeting, Traikov said that the most viable option for reducing prices and limiting dependence on imported energy resources is a temporary adjustment to the emissions trading scheme. “Bulgaria has its own resource in lignite coal for electricity generation, which has the potential to ensure competitive production and grid stability, especially in light of last year’s grid failures in Portugal, Spain and parts of France, and it should be used in the current situation,” he added.

Both agreed that such a temporary measure would not undermine long-term decarbonization commitments.

The European emissions trading scheme, introduced as a key instrument supporting decarbonization, is currently facing criticism from many countries as it increases electricity production costs within the EU and affects competitiveness.

Energy connectivity, in the context of the crisis triggered by military actions in the Middle East, was also among the central topics of the discussion. While Bulgaria and Western European countries have well-developed connectivity, bottlenecks between the two regions hinder supplies and do not support the free market, Traikov noted.

The two also discussed measures introduced by Bulgaria and France to protect businesses and consumers from high fuel and energy prices. According to Traikov, such measures are effective when they are temporary, well-targeted and limited. He added that Bulgaria’s measures have received high praise from the European Commission.

As key priorities of the Energy Ministry Traikov highlighted the Recovery and Resilience Plan, the extension of the derogation for Lukoil’s operations in Bulgaria, state aid for energy-intensive industries, and the development of gas corridors, including the Vertical Gas Corridor aimed at increasing northbound natural gas transmission capacity, diversification and security of supply, including for Ukraine and Moldova.