The ESCO market is still underdeveloped in Bulgaria (mostly due to market failures in previous years), although the initial announcement of the energy efficiency obligation scheme stimulated fast developments and resulted in establishing of ESCO subsidiaries of the major energy distributors and service providers (CEZ, EVN, EnergoPro, gas distribution companies, etc.). At the moment, they are very actively investing in renewable energy production capacities in partnership with both industrial enterprises and local authorities. There are no practical applications in the residential sector, but the recent developments indicate potential for establishment of energy cooperatives with participation of residential building owners. The Alliance for Energy Efficiency is the representative association of ESCOs, which offer energy services based on energy performance contracts. It also maintains the ethical code of the ESCOs and works jointly with the national authorities on regulations and model energy performance contracts.
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