Bulgaria’s energy sector has been deeply transformed in the past twenty years, but even more changes are expected in the period up to 2020. As a member of the EU, Bulgaria has an individual targets on the 20/20/20 goal, which are: 16% of the national end energy consumption should be satisfied by renewable energy sources as well as energy intensity should be diminished by 50%. This should diminish Bulgarian CO2 emissions for the period up to 2020.

Before the end of 2009 the Bulgarian Government should propose a new National Energy Strategy for the period before 2020. It should be based on the European energy priorities and should include as well the agreements from the Copenhagen talks. The new energy strategy of Bulgaria will have to deal with many challenges for the energy sector: guaranteeing the energy security by diversification of sources, suppliers and routes; improving the energy efficiency; promoting renewables; diminishing carbon emissions; providing conditions for real energy trading and services; strengthening the regulatory body; and defining a balance between new investments and the price of energy for households and industrial consumers.

One of the most challenging tasks for the new government in the following months will be to find a balance between the opportunities to invest in new generation (e.g. nuclear plant “Belene”), new infrastructure (like the pipelines “Nabucco”, “South Stream”, “Burgas-Alexandroupolis” and AMBO), new gas and electricity distribution assets and in the same time – tackling the world economic crisis, which is affecting the Bulgarian economy.

The level of private capital in the Bulgarian energy sector is quite good, but some energy companies are still state- or municipality-owned, which could create new opportunities. The Bulgarian Energy Holding, 100%-owned by the state, is owner of the NEK (former incumbent vertically-integrated electric monopoly), the Electric System Operator, the gas transit and transmission company Bulgartransgaz, the wholesale gas trader Bulgargaz, the nuclear plant Kozloduy, the thermal plant Maritsa East 2, and the Maritsa East lignite mines. NEK is also the owner of the nuclear project Belene with 51% - a share which could be diminished in order to ensure more private capital.