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- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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This analysis includes a comprehensive Bulgaria energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
- The electricity and gas market liberalisation remains limited.
- Since 2011, the country has multiplied disincentives for renewables.
- Bulgarian Energy Holding (BEH) accounts for around 55% of power generation, 90% of wholesale gas sales, and more than 90% of lignite mining.
- Electricity distribution is ensured by 3 foreign companies.
- CO2-free sources accounted for 52% of power generation in 2019.
- Russia was the main gas supplier in 2020, with a declining market share.
- Electricity and gas prices for households are more than 40% below the EU average.
- Total energy consumption has been rather stable since 2014, with a 4% decrease in 2020.
- Bulgaria has revived its Belene nuclear project.
- Many regional gas interconnection projects are under development, as Bulgaria aims to become a regional gas hub.
highest energy intensity in the EU (2019)
of lignite in the power mix (2019)
of renewables in the final energy consumption (2019)
Institutions & Energy Policy
The Ministry of Energy oversees the country's energy policy.
The Energy and Water Regulatory Commission (EWRC) regulates the energy sector, including some energy prices (gas, electricity, water, and district heating). It also approves the construction of gas and oil pipelines.
Its independence was strengthened by an amendment to the Bulgarian Energy Law in March 2015.
Lukoil operates the sole refinery in the country, the Burgas refinery (available capacity of 7 Mt/year plus 2.8 Mt/year not used), which produced 4.9 Mt of oil products in 2020 (-29% on 2019). The group is considering selling the refinery.
Bulgaria has substantial lignite reserves (2.2 Gt), although they are difficult to reach because they are located under cities and villages, and have a high sulphur content (2%). Bulgaria also has more modest reserves of coal (192 Mt), oil (2.3 Mt) and natural gas (less than 5 bcm).
Electricity prices soared between 2002 and 2013 (+71% for industry and +81% for households) to reflect production costs. The 9% increase in 2012 triggered massive demonstrations and the government resignation in 2013. Residential prices then increased moderately up to 2020 (+1%/year between 2015 and 2020), while industrial prices rose by 4.5%/year until 2019 (-7% in 2020).
Consumption per capita is 2.5 toe (10% lower than the EU average in 2019), with electricity accounting for about 4 300 kWh in 2020 (19% below the EU average).
Total energy consumption has been rather stable since 2014, but dropped by 4% to 17.7 Mtoe in 2020, due the consequences of the COVID-19 pandemic.
Issues & Prospects
According to Bulgartransgaz, gas consumption should increase by 3.2%/year between 2020 and 2029 (comprising 5.7%/year between 2020 and 2024 and 1.2%/year between 2024 and 2029). By 2024, most of the additional demand would be covered by domestic production (12-fold growth), while imports should rise by only 1.3%/year.
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2020, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2020, %)
- GRAPH 5: Gasoline & diesel prices (€/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total consumption market share by energy 2020, %)
- GRAPH 10: Final consumption market share by sector (2020, %)
- GRAPH 11: Oil consumption (Mt)
- GRAPH 12: Oil consumption breakdown by sector (2020, %)
- GRAPH 13: Electricity consumption (TWh)
- GRAPH 14: Electricity consumption breakdown by sector (2020, %)
- GRAPH 15: Natural gas consumption (bcm)
- GRAPH 16: Gas consumption breakdown by sector (2020, %)
- GRAPH 17: Coal consumption (Mt)
- GRAPH 18: Coal consumption breakdown by sector (2020, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The Bulgaria energy market data since 1990 and up to
is included in the Excel file accompanying the Bulgaria country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Bulgaria Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Bulgaria energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).
The Bulgaria country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
- New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
- Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.