Bulgaria, BEH will pay additional 332 million euros to the Electricity System Security Funds

, SEE Energy News

Bulgarian caretaker Government announced that state-owned Bulgarian Energy Holding (BEH) will pay additional 332 million euros to the Electricity System Security Funds in order to cover compensations for companies for high electricity prices in line with the Government’s support scheme.

The statement from the Government said that the amount was determined based on profits of energy companies under BEH’s umbrella in September, as well as profit projections for October and November.

In late September, the Government announced that it will allocate 1.85 billion euros to extend the support mechanism aimed to help commercial consumers and network operators cope with ongoing energy crisis.

Some 633,000 commercial consumers will benefit from the support measures between 1 October and 31 December, for which some 1.6 billion euros will be allocated, while the rest will be disbursed to network operators. All non-residential consumers will be fully compensated for the difference between the real average monthly baseload day-ahead price on the Independent Bulgarian Electricity Exchange (IBEX) for the relevant month and the price of 127.5 euros/MWh.

The compensations will be paid out by 31 March 2023 and will be provided through the Electricity System Security Fund financed by state-owned Bulgarian Energy Holding (BEH).