Bulgarian MPs to Discuss Creation of Electricity System Security Fund

The first reading of Energy Act amendments envisaging the establishment of an Electricity System Security Fund is to take place on Tuesday.

The changes were proposed by Bulgaria’s Energy Ministry in a bid to curb the deficit at the National Electric Company (NEK), according to reports of the Bulgarian National Radio.

Energy Minister Temenuzhka Petkova expects that the amendments will stabilize the energy system and pave the way for the introduction of the free electricity market in 2016.

The resources of the Fund will be provided through contributions of electricity producers amounting to 5% of their monthly revenues.

The National Revenue Agency will be in charge of the collection of the installments.

Meanwhile, right-wing formation the Reformist Bloc has proposed that electricity producers publish the terms of the contracts under which they sell electricity in a bid to boost transparency.

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