Market economics to cut Bulgaria's coal use before 2038 deadline - minister
(Reuters, 16 Jan 2024) Market economics are likely to slash Bulgaria's use of coal-fuelled power years before the government's official 2038 phase out date, the country's climate minister said on Monday.
Bulgaria produces more than 40% of its electricity from coal, ahead of other sources including nuclear energy and hydropower.
Its target to phase out coal-fuelled power by 2038 has been attacked both by climate campaigners who say it is too late, and miners who took to the streets last year to protest the plan to gradually cut coal generation.
Climate minister Julian Popov said, however, he expects market forces to herald an earlier demise of the most CO2-emitting fossil fuel.
"There's no chance for Bulgarian coal to operate materially after 2030. They are private companies, most of the coal operators are private companies. They are operating at a loss. So what do you think can happen?" Popov told reporters in Brussels.
"The market is kicking them out," he added.