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In December 2021 the Faculty of Economics and Business Administration (FEBA) of Sofia University organized in partnership with guest lecturers from the energy sector a series of capacity building workshops on energy markets and prices. The format of the certification training was designed to best suit the interests of journalists, media representatives and opinion makers. The topics of the training touched upon the factors and preconditions for the record braking prices of energy globally in recent months and impacts in the national and regional context. This initiative continues FEBA efforts to provide academic knowledge beyond doors of its audiences and to facilitate knowledge exchange and various views sharing on trending economic and social issues.


Module 1 of the training concerned the basic principles of price setting in the electricity sector. Kaloyan Staykov, PhD candidate at the Department of Industrial Economics and Management at FEBA and Senior Economist at the Energy Management Institute, focused on the regulated market. He presented the legally established competencies of the Bulgarian energy regulator, the function of the Electricity System Security Fund and the essence of the regulatory cycle. The main features of different approaches for energy market regulations were compared in addition to the analysis of power price components for different types of technologies.

The principles of power exchange trading were explained by Antony Zhelyazkov, also a PhD candiate at the Department of Industrial Economics and Management and Business Development Expert at the Bulgarian Independent Energy Exchange EAD. He presented the specifics of the existing power market segments and prospects of future power markets integration for the region.

In the Q&A session the participants discussed the existing short-term regulatory instruments for compensating various energy system actors in Bulgaria and for mitigating the burden of mutiple times higher electricity prices in Europe. Speakers elaborated on how the power trading is expected to change in the next years and whether additional instruments for price risks’ hedging will be introduced and demanded by market players.