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| The energy sector plays a key role in the Bulgarian economy. It concentrates sizable state and private financial and human assets. Energy resources represent 20% of Bulgarian imports and 15% of the country’s exports. The energy sector is dominated by heavily regulated state-owned and private monopolies, thus providing a favorable environment for a lack of transparency, pervasive private political and economic vested interests, fraud, corruption, overinvestment and under-servicing, and disregard of state and consumer interests. The consequences of bad governance are enhanced by a lack of clear strategic and legal framework. Bulgaria’s EU membership, and the increasing role of the European Commission in forming a common energy policy based on market liberalization, energy efficiency and renewables, creates the opportunity for adopting better governance practices and opening up of the Bulgarian energy sector. A key objective of the Center for the Study of Democracy’s research and advocacy is to improve energy sector governance for a transparent and sustainable economic development. |
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Energy Security Risks and Energy Security Agenda in Southeast Europe
Overcoming the energy security risks of Bulgaria and Southeastern Europe including the widespread energy poverty, low energy efficiency and dependence on one supplier of oil and gas remains a distant perspective. The diversification of the natural gas supply has stalled and the liberalization of cross-border gas trading is yet to be unlocked. more » |
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