AmCham Bulgaria Presented its Power Sector Decarbonization Study to EU Institutions

AmCham Bulgaria presented its Power Sector Decarbonization Study to EU Institutions

On March 24, 2022, AmCham Bulgaria presented its Power Sector Decarbonization Study to representatives of the European Commission and of the European Parliament.

On behalf of AmCham Bulgaria were present Olivier Marquette, President and Krassimir Nenov, Co-Chair, Energy and Mineral Resources Committee. The study was presented by the Compass Lexecon team that included: Fabien Roques, Executive Vice President, Yves Le Thieis, Vice President, and Gerald Aue, Senior Economist.

The discussion focused on the decarbonization options for the Bulgarian power sector. AmCham’s study aims to contribute to the public discussions both in Sofia, and in Brussels on the decarbonization of the Bulgarian power sector. The study includes three scenarios and a package of policy recommendations that could shape a better investment framework for the new technologies needed for a responsible energy transition towards the decarbonization of the power sector in Bulgaria. It gives a clear description of the potential pathways for achieving the Fit for 55 goals till 2030, and full decarbonization till 2050.

Also, the study demonstrates that smooth and fair transition mechanisms towards decarbonization can be achieved while maintaining the sustainability and viability of the Bulgarian energy system, preserving the competitiveness of the local economy, and guaranteeing security of energy supply for business and households. Moreover, it shows that there are various paths to achieve decarbonization and provides estimates of the evolution over time of the levelized cost of electricity in Bulgaria.

The study was already presented to numerous stakeholders in Bulgaria such as the Government of Bulgaria, Trade Unions, Employers’ Associations, energy experts, energy operators in the Maritza East Complex.