Minister Stankov: We are actively working to turn energy challenges into opportunities

The government is actively working to turn energy challenges into opportunities. Green energy production must be combined with energy efficiency measures. We are helping households in the fight against energy poverty so that they can receive sustainable green energy. We have a unique chance to work on building the Decarbonization Fund, which will accumulate funds and redirect them to them. This was said by the Minister of Energy Zhecho Stankov to the participants in the panel dedicated to regional cooperation, infrastructure and connectivity, which is part of the Green transition forum 5.0 program.

Minister Stankov joined the event online from Oslo, where he participated in an energy conference on the occasion of the launch of the Longship carbon dioxide capture, transport and storage network. He emphasized that maintaining the competitiveness of business, increasing connectivity and security of energy supplies are the key priorities on which the Ministry of Energy is working. In this context, Minister Stankov emphasized the efforts to implement projects that will help maintain affordable prices for energy produced during off-peak hours for use during peak hours. These include the four new PAWPPs, the RESTORE procedure for building batteries, and others.

According to the Minister of Energy, the barriers that prevent countries from Southeast Europe from benefiting from competitive energy prices in other parts of the continent can be overcome with a regional approach. According to him, the countries affected by the problem should work together to address this challenge.

Deputy Minister Iva Petrova, who also participated in the forum, highlighted the efforts of the Ministry of Energy to ensure diversified supplies from trusted partners, regional partnership, as well as the development of networks for better connectivity as key conditions for a better standard for household consumers and economic growth for business. She emphasized the active work on the construction of the Vertical Gas Corridor, the country's participation in several priority green corridors for the region, the restoration of the Chaira CHPP, as well as the projects for new ones as strategic initiatives, the implementation of which will have a leading importance in responding to the challenges related to the volatility of energy prices.

Iva Petrova also emphasized the active work on consumer protection to the participants in the forum: Regarding business, we are working to automate and differentiate the support mechanism according to the specific type of economic activity. For households, after many years of discussions, there is currently clear coordination at the political level on the topic of energy poverty. All key ministries involved are working on sustainable reform by creating a working protection mechanism through both social protection measures and energy efficiency measures.