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Bulgaria energy report

Bulgaria energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
44 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

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.

Highlights

  • The electricity and gas market liberalisation remains limited.
  • In 2024, two tenders were launched to procure 1.4 GW of wind and solar and 350 MW of storage.
  • Bulgarian Energy Holding (BEH) accounts for around half of power generation, 90% of wholesale gas sales, and more than 90% of lignite mining.
  • Electricity distribution is ensured by 3 foreign companies.
  • Lignite-fired power generation was halved in 2023 due to high CO2 prices, pollution constraints, and the competition of renewables.
  • CO2-free sources accounted for 69% of the power mix in 2023.
  • Bulgaria is replacing Russian gas supplies that were interrupted in April 2022.
  • Electricity and gas prices declined in 2023 after a surge in 2021 and 2022. They are 40% to 60% lower than the EU average.
  • Coal and lignite consumption halved in 2023, cutting primary energy consumption by 11%.
  • Bulgaria is accelerating its Kozloduy-7 nuclear project.
  • Many regional gas interconnection projects are under development, as Bulgaria aims to become a regional gas hub.
2nd
highest energy intensity in the EU
-51%
in lignite consumption (2023)
69%
of CO2-free sources in the power mix (2023)

  • 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.

  • Energy Companies

    Oil:

    Lukoil operates the sole refinery in the country, the Burgas refinery (capacity of 7 Mt/year plus 2.8 Mt/year not used). The group is considering selling the refinery, since Bulgaria has introduced measures to end Russian oil imports.

  • Energy Supply

    Gas:

    Natural gas production is negligible (around 10 mcm) and accounts for less than 1% of the domestic supply (2023). Imports have averaged 3 bcm/year since 2010 (-17% to 2.4 bcm in 2023 after a peak of 3.3 bcm in 2021).

  • Energy Prices

    Gas:

    In 2021 and 2022, several factors contributed to raise European gas prices to record levels (higher gas demand in a context of economic recovery, lower hydropower, and nuclear availability) and reduced gas supply in 2022 with the war in Ukraine.

  • Energy Consumption

    Consumption per capita is 2.7 toe (4% lower than the EU average in 2023), with electricity accounting for about 5 000 kWh in 2023 (7% below the EU average in 2023).

    Total energy consumption fell by 11% to 17 Mtoe in 2023, in a context of lower lignite-fired power generation and higher electricity imports, after strong growth in 2021 (8.7%) and a slow progression in 2022 (+1.2%).

  • Issues & Prospects

    Gas:

    According to Bulgartransgaz, gas consumption should increase by over 10%/year between 2024 and 2033. Most of the additional demand would be covered by imports.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • 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 2023, %)
  • GRAPH 10: Final consumption market share by sector (2023, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2023, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2023, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2023, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2023, %)
  • 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 dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.