Bulgaria’s economy is 65% more energy-intensive than the EU average

“The energy intensity of our economy is 65% higher than the EU average. Therefore, the potential for development in this area is huge,” said Delian Dobrev, Minister of Economy, Energy and Tourism.

“The country’s energy strategy projects a 50% reduction of energy intensity by 2020, compared to 2005. This will lower energy consumption by 15%, compared to 2010. Bulgaria’s national target in the Energy Efficiency Plan projects that by 2016, we should achieve energy savings amounting to 9% of the final energy consumption. Therefore, energy efficiency is a priority for the competitiveness of our economy and a key factor for raising the living standards of people,” Delian Dobrev commented at a meeting with the Club Diplomats-Economists, organised by the Centre for Economic Development. The meeting focused on Bulgaria’s power engineering.

“Operational Programme Competitiveness is also focused on energy efficiency,” added Dobrev. He presented to the participants in the forum the Energy Efficiency and Green Economy scheme, implemented by the Ministry of Economy, Energy and Tourism jointly with the European Bank for Reconstruction and Development (EBRD). A total of €150 mln has been earmarked for projects under this scheme within OP Competitiveness and another €150 mln will be ensured by a credit line from EBRD for bridge financing of projects. At present, the scheme is open for applications.

The construction of gas interconnections with neighbouring countries was also among the issues discussed by Minister Dobrev and the diplomats-economists. He pointed out that this is an important factor for the diversification of energy sources.

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