site.btaEU Climate Neutrality Goal Requires Reforms - Deputy Economy Minister

Deputy Economy and Industry Minister Nikolai Pavlov told the 6th European Mining Business Forum in Sofia on Wednesday that the EU's goal of climate neutrality requires reforms. According to Pavlov, the ambitious objectives of electricity production in the EU call for an increase in investments.

About 500 companies in Bulgaria operate in the coal mining industry, which employs thousands of workers, he said. He described it as an important industry for the national economy and for employment.

Pavlov vowed that the Economy and Industry Ministry will do everything to ensure that the energy transition is carried out in the best possible way to keep the national economy strong and oriented towards high value-added.

Deputy Energy Minister Krassimir Nenov noted that Bulgaria's electricity mix is very balanced as it includes nuclear and thermal power and a growing share of renewable energy sources.

Low carbon sources account for more than 70% of electricity consumption in Bulgaria. The government is focused on building more nuclear power capacities while also using the potential of renewable energy sources more extensively, Nenov said. To maintain a balanced electricity system, it is important to have more energy storage facilities and to develop new pumped-storage hydroelectricity capacities, he added.

Small modular reactors also have a role to play, and leading industrial companies in Bulgaria show interest in this kind of projects. They can receive support from the government, Nenov said.