AmCham Bulgaria is ready with its brand-new “Energy Industry Decarbonization Report 2022”. This is a comprehensive study that includes three scenarios and a policy recommendations package that could shape a better investment framework for the new technologies needed to achieve the EU decarbonization targets, as well as to present smooth and fair transition mechanisms aiming at maintaining the sustainability and viability of the Bulgarian energy system, preserving the competitiveness of the local economy, and guaranteeing security of energy supply for businesses and households.

The report proposes a strategic approach to a responsible energy transition towards the decarbonization of the power sector of Bulgaria. The study is the result of 6-month work by a prominent industry consulting firm – Compass Lexecon. Since the start of the project, AmCham’s Energy and Mineral Resources Committee engaged with key institutions and various stakeholders in the definition of scenarios and sensitivities as well as the precise data collection. As per its concept, it is based on solid data and tangible assumptions originated from some of the most relevant energy and climate documents of the European Union and Bulgaria – National Energy Climate Plan 2020, EC’s Fit for 55 (2021), and EU Reference Scenario 2020. The report analyses key performance indicators in the three scenarios such as capacity, flexibility, investments, emissions, and cost.

“AmCham Bulgaria and our 300+ members have proven again that they are willing to share their global experience and to engage with the Bulgarian government and key stakeholders to support the joint efforts in promoting Bulgaria’s economic growth and prosperity. This is our second-in-a-row study that we are presenting for the sake of a specific sector improvement. In 2021, our Healthcare Committee conducted “Healthcare as an Investment” Report – a holistic study with proposals to reform the functioning of this system in Bulgaria.” – commented Olivier Marquette, AmCham Bulgaria President.

Next Steps

AmCham starts the execution of a communication plan to present the study to all relevant authorities, stakeholders, as well as to media and public at large. In the coming weeks, it will initiate the public discussion on the pathways which Bulgaria can pursue in achieving the EU decarbonization targets while maintaining a viable power sector, working economy, and ensuring a fair energy transition for Bulgaria and its regions.

Sponsors

We would like to express our appreciation to those members that sponsored the study. Your contribution made it possible!