Reuters: No More Incentives for Bulgarian Renewable Energy Installations

Views on BG | February 27, 2015, Friday // 11:48| Views: | Comments: 0
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Bulgaria: Reuters: No More Incentives for Bulgarian Renewable Energy Installations Photo: BGNES

Bulgarian Parliament overturned its former decision Thursday for preferential pricing of renewable energy installations across the country.

In 2011 Bulgaria introduced general subsidies for wind power farms and photovoltaic parks thus providing a great incentive for their development, Reuters reported. Furthermore, the contracts guaranteed that the subsidies would be enacted for a period of 20 years.

As a result, Bulgaria has met the requirement for a 16% share of renewable energy in the local market in 2013, long before the EU required 2020.

An additional Thursday amendment to the Bulgarian law states that the national energy provider NEK will no longer be obliged to buy the energy produced by power plants that can't prove energy efficiency.

NEK announced its deficit of BGN 3,3 B and according to announcement of the Bulgarian Energy Ministry the main cause has been the long-term unfavorable contracts for the purchase of alternative energy at high cost.

A further note on the law amendment states that the members of the energy regulator will no longer be appointed by the government, but by the Parliament instead.

The full article can be accessed here.

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Tags: Bulgaria, parliament, renewable energy, subsidies, NEK, power plants, deficit, law amendment, wind power farms
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