Bulgarian caretaker Government is planning to provide up to 332 million euros in the the first six months of 2022 to help commercial consumers cope with increasing electricity prices.
Caretaker Prime Minister Stefan Yanev explained that the Government will propose state aid of 25.6 euros/MWh of electricity used by commercial consumers in the first six months of next year as part of the 2022 budget draft. The funds are to be taken from the state energy companies’ extra profits. However, this amount is lower than 35.8 euros/MWh previously demanded by the Bulgarian Industrial Capital Association (BICA).
Another long-term measure is the formulating a national position on the need of a more flexible European policy for the state aid compensatory mechanisms, as well as on a temporarily lower carbon emissions price. A third long-term measure is the creation of a clearinghouse with help from the Ministry of Finance, the Ministry of Economy and the Bulgarian Stock Exchange.
PM Yanev explained that this is a mechanism which, together with the Independent Bulgarian Energy Exchange (IBEX), will work towards balancing the interests of electricity producers, dealers and customers, thereby creating conditions for a flexible market and lower financial risk for the market participants.
As a short-term measure, the Ministry of Energy and state-owned Bulgarian Energy Holding (BEH) will start offering new positions for long-term electricity contracts suitable for small-sized commercial consumers.