Bulgaria joins the common European electricity market. Together with Croatia, the Czech Republic, Hungary, Poland, Romania and Slovenia, Bulgaria will now be involved in unifying the electricity markets.
So far, there were 14 European countries involved in the union. The first deliveries are planned for November 20 this year.
An integrated EU energy market is the most cost-effective way to ensure secure and affordable supplies to EU citizens. Through common energy market rules and cross-border infrastructure, energy can be produced in one EU country and delivered to consumers in another. This keeps prices in check by creating competition and allowing consumers to choose energy suppliers.
The share of electricity produced by renewable energy sources is expected to grow from 25% to more than 50% by 2030. At the same time, electricity must also be produced and delivered in sufficient quantities when there is no wind or sun. Markets need to be improved to meet the needs of renewable energies and attract investment in the resources, like energy storage, that can compensate for variable energy production. The market must also provide the right incentives for consumers to become more active and to contribute to keeping the electricity system stable.