site.btaMEP Tsvetelina Penkova: Bulgaria Is Strategically Important for Interconnected Power Transmission Network

Speaking to journalists during the European Parliament's plenary session, Bulgarian MEP Tsvetelina Penkova (S&D Group/Bulgarian Socialist Party) Wednesday said energy connectivity is crucial for the EU's future industrial and economic stability. "This has been a priority we set in the previous term of the European Parliament and the European Commission. It is high time we started building this interconnected power transmission network because, without it, the EU's competitiveness is but an illusion," she said.

Penkova highlighted Bulgaria's strategic geographical position. "If we are talking about an energy union and connectivity, we need to develop an interconnected electricity transmission network running along North-South and East-West axes. Bulgaria is always the starting point. We have the potential to be the starting point of this network for many reasons, the most important being that Bulgaria is the largest energy producer in its region," she said.

According to Penkova, Bulgaria plays a key role as an energy producer in the region and has a well-balanced energy mix, including nuclear energy, coal and renewable sources. "This means that we can generate energy not just to meet the needs of our country and the region, but for export as well," she explained.

Another important aspect is the development of the gas transmission network by utilizing the existing infrastructure, said Penkova. "Bulgaria has a well-developed infrastructure which can be used for alternative natural gas supplies. Natural gas will remain an essential part of Europe's energy mix for at least 20 more years, which justifies significant investments in this sector," she added.

According to Penkova, the EU must address its internal differences in order to be competitive on a global level. She singled out as key topics of the February 10-13 session potential US tariffs on EU goods and the European Commission's Work Programme 2025.

"We cannot strive for overall competitiveness if there are still countries in the EU where electricity prices vary so dramatically. In some North European countries, electricity prices are now ten times lower than in Bulgaria. Energy is a fundamental resource and the foundation upon which a functioning economy must be built. Without energy, we have no effective industries, no well-paid jobs - nothing can function," Penkova said.