Energy market

The fuel market is suffering as a result of the pandemic and the government restrictions, as demand in December shrank a considerable 27.2%, mainly due to the ban on traveling between regional units, followed by a 30% slump in January. February also appears to be showing a similar picture.

In tandem with the global energy transitions, Turkey has gone through a major transition since 2002, which I refer to as Transition 1.0. Opening the market to competition while meeting the increasing demand was not an easy process, but strong political commitment, vision, and stability made it possible.

Turkey may become an energy exporter in a decade's time, Turkish Energy Minister Berat Albayrak has said. 

Publishers Editcom, who also operate specialized website energia.gr, have released the "Greek Energy Directory 2016," a comprehensive guide to the local energy industry, which is at the forefront of privatizations in Greece, given the country's recently discovered hydrocarbon reserves, the opening up of the local energy market and the infinite domestic capacity in terms of renewable sources.

Bulgarian President Rosen Plevneliev has called for the creation of a genuine European energy market.

He has added Europe urgently needs to establish the Energy Union (a project embraced by the current EU Commission) based on interconnectivity and preventing the use of natural gas as a weapon.

Bulgaria's energy legislation needs urgent amendments early next year amid steps to liberalize the energy market, the chief of the energy watchdog has said.

Ivan Ivanov, who heads the country's Commission for Energy and Water Regulation (KEVR), has made his comments during a hearing in Parliament, ahead of the first test launch of the energy exchange in Sofia.

A trial launch of the Independent Bulgarian Energy Exchange (IBEX) is expected to take place on Friday.

The aim of the exchange is to ensure that electricity will be sold and purchased at prices determined by the market.

"For too long Bulgaria and other countries of the region have been concentrating on large scale pipeline projects such as South Stream and have left behind the development of important regional infrastructure, notably interconnections with neighbouring countries," Klaus-Dieter Borchardt, Director Internal Energy Market at the European Commission's Directorate-General for Energy

The forthcoming liberalization of the energy market in Bulgaria is likely to lead to an increase in the prices of the electricity in the country.

This was stated by Bulgarian Energy Minister Temenuzhka Petkova in an interview for the Bulgarian National Radio (BNR) on Sunday.

AES and ContourGlobal thermal power plants, alongside renewable energy sources, will remain the primary sources in the energy mix of Bulgaria, a recent document shows.

The lates pricing decision of energy watchdog KEVR shows that AES Martiza East 1 and ContourGlobal Maritsa East 3 sets theire share in Bulgaria's energy system at 20% and 25.2%, respectively.