Energy Minister Zhecho Stankov announced that Bulgaria aims to sign a construction agreement for units 7 and 8 at the Kozloduy nuclear power plant by the end of 2026. If the project proceeds as planned, Bulgaria will become the first EU country to operate a Westinghouse AP1000 reactor.
Minister Stankov said the contract is expected to be finalized next year, with the first new unit potentially coming online in 2033 or 2034. The second unit would likely follow within two years of the first.
By the end of this month, the government plans to publicly release the final cost estimates for the new units. Stankov emphasized that the government is fully committed to the project, with 20 to 30 percent of the investment expected to come from state funds. Talks are ongoing with international financial institutions to secure the remaining financing.
Regarding the Belene nuclear power plant, the minister noted that various options for the unused reactors are being explored. While selling the equipment remains the simplest solution, the growing importance of nuclear energy in Europe is prompting consideration of more strategic alternatives.
On the retail electricity market, Minister Stankov said the government has indefinitely suspended the liberalization process to ensure Bulgaria maintains the lowest household electricity prices in the EU. Market liberalization will only be reconsidered after residential energy efficiency measures are fully implemented.
Turning to coal-fired electricity, the minister highlighted the critical role of the Maritsa East complex, which accounted for about 35 percent of Bulgaria’s electricity generation last year. He stressed that no EU regulation currently mandates a coal plant closure date and insisted that Bulgaria must determine its own long-term energy strategy.
