site.btaHead of Association of Traders with Energy in Bulgaria: Energy Market Should Be Liberalized When Bulgaria Is Ready

The Association of Traders with Energy in Bulgaria (ATEB) believes that while liberalization is the right way to develop the energy market, the country is not ready for it, which is why the association proposes to have a working group set up with all stakeholders present in it, said ATEB Deputy Chair Valery Drenikov during the fourth Powers Summit forum in Sofia Tech Park on Tuesday. The event sees representatives of the government, political forces and businesses discuss the main challenges and opportunities for the Bulgarian market.

Drenikov said: "We support the liberalization of the electricity market, and this is the right way to develop the energy sector. On the other hand, we realize that we are again not ready to implement liberalization. To date, the way it is 'dressed up' poses risks for all market participants, and these are the end customers, the suppliers, the businesses, as well as the neighbouring markets, because once the market is liberalized, it becomes part of the single market in Europe, and everyone is on an equal footing."

According to the Deputy Chair, ATEB members are concerned, because the electricity market being heavily regulated makes it hard to manage. He said: "There is a regulation on producers who have a revenue cap. End customers are regulated with a price cap. Traders are also regulated through the 2024 budget with their revenue cap."

Drenikov called for dialogue to achieve clear horizons and predictability. He added that participants need to know when the market will be liberalized and deregulated, so that they can anticipate and manage the risks.

According to the Chair of the Association for Production, Storage and Trading of Electricity, Nikola Gazdov, the COVID crisis and the war in Ukraine affected the energy market. "In recent years, new solar capacities have been added in the country, but unfortunately, no wind capacities, and this is again related to fake news and propaganda as far as wind farms are concerned," he said.

Head of the Bulgarian Photovoltaic Association Meglena Rusenova called for new energy capacities to be supported through legislation to ensure security of supply.