| Wind Watch is a registered educational charity, founded in 2005. |
Bulgaria scraps incentives for new renewable energy installations
Credit: SOFIA Fri Feb 27, 2015, in.reuters.com ~~
Translate: FROM English | TO English
Translate: FROM English | TO English
Feb 26 (Reuters) – Bulgaria’s parliament scrapped preferential prices for new renewable energy installations on Thursday as the country is struggling to cut deficits in the energy sector and keep a lid on consumers’ utility bills.
Wind power farms and photovoltaic parks mushroomed in 2011, after Bulgaria introduced generous subsidies for renewable energy, guaranteed for 20 years and committed to buy all the energy produced by them.
But the incentives have weighed on the power costs in the European Union’s poorest country, which has met its 2020 target for a 16 percent share of renewable energy at the end of 2013.
The granted incentives will still be valid for already operational wind and solar energy plants.
The amendments of the energy law, approved by the parliament, also envisioned that the public power provider NEK will not be obliged to buy power at preferential prices from heating power plants that cannot prove energy efficiency.
The renewable energy boom, incentives for co-generating power plants and high costs under long-term power purchase agreements have soared NEK’s deficit to 3.3 billion levs ($1.89 billion), the energy ministry has said.
Last week, U.S. power companies AES and ContourGlobal agreed to negotiate lower prices for the electricity they produce in Bulgaria.
The parliament also approved changes to boost the independence of the energy regulator, and its members will be appointed by parliament, and not by the government, as at present.
High utility bills had sparked protests which toppled the government of Prime Minister Boiko Borisov in February 2013.
($1 = 1.7460 leva)
(Reporting by Angel Krasimirov and Tsvetelia Tsolova)
This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.
The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.
| Wind Watch relies entirely on User Contributions |
 (via Stripe) |
 (via Paypal) |
Share:
[ Short URL: https://wind-watch.org/news/?p=70248 ]
