KEYWORDS TODAY:   UkraineDonetskSouth Stream

Bulgaria's Wind, Solar Power Producers Want New Fee Vetoed

Business » ENERGY | December 5, 2013, Thursday // 14:06| Views: 1425 | Comments: 1
  • Send to Kindle
Bulgaria: Bulgaria's Wind, Solar Power Producers Want New Fee Vetoed Renewable energy producers have staged numerous protests against a proposed 20% tax on their revenues in front of the Council of Ministers building in Sofia. Photo by Sofia Photo Agency

Bulgarian producers of wind and solar power have attacked the new 20% fee of their revenues, demanding that the president impose a veto on it.

Bulgaria's parliament voted on Thursday to impose a 20% charge on income from wind and solar power installations next year, saying this is a shortcut to keeping down electricity bills.

The vote came in defiance of renewable energy producers, who have staged numerous protests against the proposed tax.

They have complained that many of them had developed their businesses through loans from banks and the imposition of such a tax on their turnover would substantially complicate their situation.

In a media statement, the Bulgarian Photovoltaic Association (BPVA) defined the decision for the new tax as scandalous, opaque, discriminatory, and illegal.

Industry representatives insisted that the measure would discourage foreign and local investors from the most successful sector of the Bulgarian economy which had absorbed over EUR 4 B of investments and created thousands of jobs.

Nikola Nikolov from the BPVA underscored that the tax was unconstitutional and the state offered no service in exchange for it.

In an interview for the Bulgarian National Radio, Ruslan Stefanov from the Center for the Study of Democracy argued that the measure would trigger a wave of bankruptcy of renewable energy companies and referred to the proposal as an example of opaque governance.

Energy » Be a reporter: Write and send your article
Tags: Renewable Energy Act, protest, Bulgarian Photovoltaic Association, renewable energy, sources, wind farms, photovoltaic plants, Ministry of Economy and Energy, European Commission
Expats.bg All Are Welcome! Join Now!

Leave a comment


» To the forumComments (1)
#1
Moscow Wolf - 5 Dec 2013 // 18:41:44

How typical of a short-sighted Government; by all means TAX the rich bandits that jumped on the Green Energy bandwagon and built Solar fields of many acres producing many Mega Watts of electricity to the National Grid, but don't tax the ordinary man that invests his Euro 30K to produce up to 30Kw of energy to the Grid and what the EU Directive on Green Energy about whom the Green Energy Bill was originally aimed at. I've seen these so called businessmen with Sofia Number Plates on their Bentley's out in the sticks near Yambol installing huge fields of Solar Electricity producing panels because the have the money to do so and jumped on the Green Price Per Unit produced. By all means, tax them, they can afford it, but leave the guy that wants to earn some small monthly fee from his risky investment alone.

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria