Bulgaria needs a sustainable energy sector to support the growth of the economy

Април 23, 2015

AES is supporting and contributing the reforms in the field, started by the Government

“Bulgaria needs a sustainable energy sector to support the growth of its economy and the Government is currently implementing much needed structural reforms that aim at restoring the financial situation of NEK”, said the Executive Director of AES Bulgaria Olivier Marquette during the COFACE conference “Country risk 2015”, held today in Sofia.

According to Marquette, theenergy package, voted by the Parliament in March 2015, is an important step of the reforms. “AES already has contributed to the governmental efforts to stabilize the sector, by renegotiating the PPA that the company is having with NEK. We are a responsible and reliable long-term investor and we believe that the stabilization of the energy sector is a goal that all of us need to work for”, added Marquette.

“Energy security is also a very important factor to reduce volatility of the market. It can be achieved by diversifying fuel suppliers and by relying on local fuel sources, such as lignite, but also wind and sun. Having close to 4,000 MW of lignite-fired plants in the Stara Zagora region contributes to energy independence of the country. AES lignite-fired power plant relies entirely on the local sources of energy – coal from the Maritza region, and this way we are working for the decrease of the energy dependence of the country from imported resources, benefiting at the same time the national economy and helping to sustain the high employment rate in Stara Zagora region”, explained the Executive Director of AES Bulgaria.

The regulatory clarity and stability are also an important element of the picture. Since energy investments are long-term investments, the more stable and predictable the regulatory environment, the better. In that sense, the recent appointment of a new regulator by the Parliament is a good step forward, said Marquette.