Sofia hosts International Conference on Green Transition

The green transition means a complete transformation of society, but not at the expense of the people, President Rumen Radev said at the opening of the international conference on Green Transition on June 20. Three key laws related to the green transition are to be adopted, the Speaker of the Bulgarian Parliament said. The head of the Energy and Water Regulatory Commission predicted an increase in electricity prices.

The green transition must be sustainable, with solid planning and risk assessment, but also taking into account the social factor, President Rumen Radev said:

"The social cost, which could turn out to be too high and reverse the meaning of this whole transition, feed Euroscepticism, which is an extremely dangerous trend and we have to be especially careful here because this cannot be at the expense of the people."

The President highlighted the achievements of the caretaker cabinet over the past year in the sphere of energy connectivity in the region, the diversification of gas supplies, and singled out the contract with Turkey's Botas to preserve capacities and supply liquefied gas.

"The only contract of its kind that Turkey has concluded with another country, is the one with us. And as much as it will be criticised and discussed how Russian gas will flow there and Putin will suddenly pop out of the pipes, this is an achievement," Radev stressed.

National Assembly Speaker Rosen Zhelyazkov focused on the changes in the energy law related to renewable sources and energy efficiency:

"And above all to address the fears of the people and the household customers. So, that 2038 closure of power-related capacities, TPP "Maritsa 2" and of course the mining industry, not earlier. Regulated market in 2026."

Utilities regulator’s chief, Ivan Ivanov, assured that even after 2025 household customers will remain on the regulated market because of Brussels' requirement to protect the energy poor, who make up nearly 40% of the population in the country. He pointed out that the price of heating in the next 12 months remains unchanged, but electricity will become more expensive:

"Due to the fact that part of the energy produced by the Maritsa-Iztok thermal power plant will be introduced into the mix for the regulated market, the price will be increased by between 4, maximum 5%."

The forum, featuring over 130 panelists from 10 countries, continues in the next days.