Following discussions with his Greek and Romanian counterparts in Luxembourg, Bulgarian caretaker Minister of Energy Vladimir Malinov emphasized the urgent need for targeted investment in energy networks and interconnectivity. He stated that addressing these issues is crucial for responding effectively to the challenges posed by high energy prices in southeastern Europe.
Malinov noted that it is essential to support all market participants, including infrastructure operators. Last month, Greece, Bulgaria and Romania issued a joint statement to the EU advocating for solidarity in tackling these challenges at the European level. The Energy Ministers from the three countries concurred on the necessity of timely measures to enhance the region’s readiness.
To address the situation, ongoing analyses are required to identify the root causes, including assessments of the availability of physical capacities for electricity trading, national market specifics, existing electricity connectivity in the Southeast European (SEE) region, and the need to overcome barriers to market interconnection within the EU. Additionally, they discussed the physical availability of trading capacities and the potential electricity deficit in Ukraine during the upcoming winter.
The three ministers agreed that a coordinated approach based on mutual support is the most effective strategy during times of crisis. During the meeting, EU Energy Ministers also discussed the current electricity price situation and received updates from the European Commission regarding preparations for the 2024/2025 winter season.
