Sofia to urge for European funding for energy interconnections

published on 10/15/24 7:50 AM

Photo: pixabay

EU energy ministers are meeting in Luxembourg to discuss the energy sector's contribution to the EU's competitiveness, wholesale electricity prices and winter preparedness.

At the request of Greece, supported by Bulgaria, Romania and Croatia, a discussion point on the differences in wholesale electricity prices, which are significantly higher in Eastern Europe than in Western Europe, has been added to the agenda.

The initiative includes a proposal to establish a permanent intervention mechanism to deal with extreme price spikes, as South Eastern Europe remains cut off from the rest of the European energy market. The four countries will advocate the allocation of European funds to build missing connections between energy systems within the Community and to modernise the grid to ensure the successful integration of increased amounts of green energy.

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EU energy meeting in Luxembourg

Sofia to urge for European funding for energy interconnections

More from category

Bulgargaz proposes 8% increase in natural gas price for November

BNB calls on the state to pursue conservative financial policy

Bulgaria’s Minister of Finance proposes that December 31 and January 2 be declared non-working days due to euro changeover

BNB calls on the state to pursue conservative financial policy

Bulgargaz proposes 8% increase in natural gas price for November