The Ministry of Energy is working to turn challenges into green opportunities.

The Minister of Energy Zhecho Stankov emphasized that the government is working actively to turn the challenges in the energy sector into opportunities. According to him, the production of green energy must be combined with energy efficiency measures. The Ministry is helping households in the battle against energy poverty to be able to receive sustainable green energy. Stankov pointed out that there is a unique chance to work on the establishment of a Decarbonization Fund, which will accumulate funds and direct them towards green projects.

The Minister joined an online panel dedicated to regional cooperation, infrastructure and connectivity, as part of the Green Transition Forum 5.0 program. He stressed that preserving the competitiveness of businesses, increasing connectivity and the security of energy supplies are key priorities for the Ministry of Energy. In this context, Stankov highlighted the efforts to implement projects that will help maintain affordable energy prices, produced during hours with less consumption, for use during peak hours. These include four new Pumped-Storage Hydroelectric Power Plants, the RESTORE procedure for the construction of batteries and others.

According to the Energy Minister, the barriers that prevent the countries of Southeastern Europe from taking advantage of the competitive energy prices in other parts of the continent can be overcome with a regional approach. In his words, the affected countries should work together to address this challenge.

Deputy Minister Iva Petrova, also participating in the forum, highlighted the Ministry's efforts to ensure diversified supplies from trusted partners, regional partnership and the development of networks for better connectivity as key conditions for a better standard of living for household consumers and economic growth for businesses. She emphasized the active work on the construction of the Vertical Gas Corridor, the country's participation in green corridors of regional importance, the restoration of Chaira PSHPP and projects for new ones, which are strategic initiatives of paramount importance for addressing the challenges related to the volatility of energy prices.

Iva Petrova also stressed the active work for consumer protection - for businesses, automation and differentiation of the support mechanism according to the type of economic activity is being worked on, and for households, after years of discussions, there is now clear coordination at the political level on the issue of energy poverty. All the key ministries involved are working on a sustainable reform through the creation of a working mechanism for protection both through social protection measures and energy efficiency measures.