Bulgarian Government Promises BGN 450 Million in Compensation for Expensive Electricity

Up to BGN 250 per megawatt-hour will be compensated for schools, community centers and children's institutions for the two months of January and February, announced the Minister of Finance and Deputy Prime Minister Asen Vassilev in the blitz parliamentary control. The funds are from additional revenues and are BGN 450 million. Asen Vassilev announced that a working group will additionally determine which municipalities have additional needs for support.

It is proposed to create an option for purchasing electricity from a common supplier under long-term contracts so that there will be predictability in the price of electricity.

“To make sure that municipalities, kindergartens and schools, all those who want from the public sector, can buy electricity together through a common supplier, which actually will, on behalf of the state, buy electricity on long-term contracts on the stock exchange. This will allow 12 or 24-month price predictability, will make budgeting normal and will ensure that we have a free market on the one hand, on the other hand, not every school principal has to become an electricity trader and understand the specifics of this activity,” said the Deputy Prime Minister.

/BNR

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