Europe: Brent oil, TTF...

During the fourth week of June, Brent crude oil futures prices experienced a...

Europe: Electricity prices fall...

In the fourth week of June, average electricity prices declined across most major...

Europe: Electricity demand rises...

During the week of June 23, electricity demand rose across most major European...

Solar and wind energy...

During the week of June 23, solar photovoltaic (PV) energy production rose in...
Supported byClarion Energy
HomeUncategorizedBulgaria: The EC...

Bulgaria: The EC approved 142-million-euro state aid for energy companies

The European Commission has approved a 278 million lev (142 million euros) in state aid for Bulgarian energy companies.

In a statement, the Commission said that the state aid aims to alleviate part of the costs incurred by companies that stored natural gas at Chiren underground gas facility to help the country reach its filling target before the start of the heating season in November 2022.

The Commission said that the scheme will compensate for part of their losses stemming from storing high-priced gas in summer 2022 to meet Bulgaria’s filling obligations and then selling it at lower prices from November 2022 to April 2024.

The state aid will be disbursed to the companies in the form of direct grants, with the aid amount capped at 150 lev (76.7 euro/MWh), while only half of the stored gas can be taken into account in calculating the final aid amount. The scheme will run until December 31, 2024, the EC said.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Brent oil, TTF gas and CO2 prices decline in late June amid easing Middle East tensions

During the fourth week of June, Brent crude oil futures prices experienced a decline. On Monday, June 23, the price settled at $71.48 per barrel, already 7.2% lower than the last session of the previous week. Prices continued to...

Bulgaria sees decline in energy production and consumption in April 2025 amid refinery maintenance

According to the Bulgarian National Statistical Institute, both electricity production and consumption experienced a monthly decline in April 2025. Electricity output dropped by 5 percent compared to March, totaling 3,298 GWh, while consumption fell by 8.8 percent to 2,684...

Bulgaria: Solaris Holding launches new 59.8 MW hybrid solar facility with battery storage

Solaris Holding, a joint venture between Bulgarian-German solar developer Sunotec and Eurohold Bulgaria, has commissioned its newest hybrid renewable energy facility near Selanovtsi, close to Vratsa in northwestern Bulgaria. The project covers nearly 38 hectares and includes a 59.8 MW...
Supported byVirtu Energy
error: Content is protected !!