site.btaMEP Tsvetelina Penkova, Experts Present Document Outlining Priorities of Bulgaria’s Industry, Energy

Tsvetelina Penkova MEP of the Group of the Progressive Alliance of Socialists and Democrats and representatives of the economic and energy sectors in Bulgaria presented Monday a document outlining the priorities of Bulgaria’s industry and energy. Speaking to reporters in BTA's National Press Club in Sofia on Monday, Penkova noted that these are national priorities that should be defended by the MEPs to be elected in 2024.

Penkova presented the seven priorities set out in the document, which are not in order of importance. The first one is ensuring security of energy supply. It should be a goal to secure the cheapest possible energy carriers, she pointed out. In her words, price predictability must be guaranteed in the long term.

The second priority is related to the development of nuclear energy, which, according to Penkova, should become EU’ main source of energy. The third priority is related to the production of critical raw materials. The fourth priority is to maintain the industry’s competitiveness and high-quality jobs.

The fifth priority is a balanced energy mix. The aim is to provide a clear focus and economic and financial incentive for the development of substitute technologies and their components in the EU, rather than encouraging import of cheaper technologies from third countries.

The sixth priority relates to improving the connectivity of electricity and energy networks in the EU. The seventh priority focuses on academic excellence and development of human potential. In Penkova's words, attention must be paid to the shortage of skilled workforce not only in Bulgaria, but across the EU.

Bulgarian Industrial Capital Association Chair Vasil Velev pointed out that European economy’s problems are getting worse compared to global economy. He pointed out that Bulgaria's biggest exports are to EU countries. Therefore, the slowdown of European economy leads to the slowdown of Bulgarian economy. Velev explained that a fundamental factor for the competitiveness of an economy is its industry, which in turn depends on the competitiveness of electricity prices. "We would like Bulgaria to take a more active and constructive position in defining European policies," Velev stressed.

Eurohold Bulgaria Supervisory Board Chair Assen Christov urged the future MEPs to note the document. According to Christov, this document reflects Bulgaria's national interest.

Bulgarian Atomic Forum’s Executive Secretary Stanimir Georgiev believes that in 2050 Bulgaria should have 4,000 megawatts of nuclear capacity. In his words, for this to happen, there must be conditions and especially political understanding and support from the Bulgarian government. According to him, nuclear technology and renewable energy sources should go hand in hand.

The presented document was drafted together with Electricity System Operator Executive Director Angelin Tsachev, the Chair of the Board of the Bulgarian Association of Metallurgical Industry Nikola Rangelov, Rumen Tsonev – CEO of the KCM 2000 Group, and Konstantin Stamenov - Chair at the Bulgarian Federation of Industrial Energy Consumers.