Bulgaria, Government promises 230 million euros in compensations for the public sector

, SEE Energy News

Bulgarian Minister of Finance Asen Vassilev said that up to 128 euros/MWh will be compensated for schools, community centers and children’s institutions for the two months of January and February.

The funds for this purpose are from additional revenues and amount to 230 million euros. Minister 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 single supplier under long-term contracts so that there will be predictability in the price of electricity. He explained that, to make sure that municipalities, kindergartens, schools and others from the public sector, can buy electricity together through a single supplier, which actually will, on behalf of the state, buy electricity on long-term contracts on the energy exchange. This will allow 12 or 24-month price predictability, will make budgeting normal and will ensure that there is a free market on the one hand, on the other hand, not every school authority has to become an electricity trader and understand the specifics of the market.