As a consequence of the recent cold spell gripping Bulgaria, the nation experienced a notable shift in its energy dynamics, emerging as a net importer of electricity on January 9. Despite possessing ample capacity, Bulgaria’s electricity production struggles to compete in the market, leading to increased reliance on neighboring countries. This trend, observed on a specific day, is indicative of a larger pattern identified by the financial and economic media outlet “Capital”.
Even with sufficient resources, the state-owned coal-fired thermal power plant “Maritsa-Iztok 2” operates at less than 30%, prompting Bulgaria to import electricity from former supply partners such as Greece, Serbia, Turkey and North Macedonia.
This development has not gone unnoticed by opposition politicians, who have seized the opportunity to critique the government at the outset of the new political season. Georgi Svilenski of the Bulgarian Socialist Party (BSP) expressed concern, stating that such a reliance on imports had not occurred since 1930. Meanwhile, Tsoncho Ganev from “Vazrazhdane” (Revival) raised questions about the potential cost of new reactors in the “Kozloduy” NPP, suggesting a substantial figure of BGN 70 billion.
“Capital” noted that Bulgaria faced a similar situation in May and November of the previous year when the Kozloduy nuclear power plant underwent scheduled maintenance. Rather than utilizing available thermal power plants, Bulgaria resorted to imports during these periods.
The article recalls the energy landscape in 2022, marked by the Russian invasion of Ukraine and surging energy prices. Bulgaria, during that time, achieved a record export of over 12 terawatt-hours, mainly sourced from coal plants. Unfortunately, the optimism surrounding the energy sector then led to a misguided belief that the high prices were a lasting trend, culminating in a decision to maintain the status quo in the sector.
This shift to a net importer status raises concerns about Bulgaria’s energy independence and prompts a reevaluation of strategies to ensure stability in the face of growing consumption. (Novinite/Business World Magazine)