The Bulgarian caretaker government has adopted a draft decision to amend the compensation program for non-household electricity consumers for the period from July 1 to December 31, 2024. This revised program now includes operators of electricity transmission and distribution networks.
Energy Minister Vladimir Malinov announced that the new mechanism will fully compensate electricity costs that exceed €90/MWh for all companies and network operators during this period. He noted that the European Commission views this measure as comparable to similar initiatives from 2021 and previous years, emphasizing its necessity for the current market conditions. The implementation of the program is set to begin this week, with the Electricity System Security Fund starting compensation payments to businesses to safeguard the competitiveness of Bulgaria’s industry and economy.
Addressing the issue of high electricity prices, Minister Malinov indicated that this is a regional challenge affecting not only Bulgaria. He has engaged in discussions with counterparts from Greece and Romania, agreeing to present the issue and its economic impact to the European Commission to seek a joint protection mechanism for businesses across the three countries. The compensatory mechanism is the first step in this collaborative effort.
