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09.07.2015 16:36
Bulgarian RES Producers Protest New Energy Security Fund Levy and Retroactive Measures
RES producers will see a portion of their revenues taken away by feed-in tariff restrictions and a 5-percent monthly contribution to the planned Fund for Security of the Energy System

  • © mueritz,

Bulgarian renewable energy organisations the Bulgarian Photovoltaic Association (BPVA), the Bulgarian Wind Energy Association (BGWEA), Ecoenegy and Hydroenergy expressed their concern with the future of renewable energy in the country due to the planned amendments to the Energy Act. The document published on Wednesday stipulates that all electricity producers, including RES installations, will have to pay 5% of their monthly revenues to the planned Fund for Security of the Energy System. Also, RES producers will be imposed individual production thresholds for feed-in tariffs, which will depend on the outcome of probes conducted by the Public Financial Inspection Agency (PFIA).

Furthermore, if the inspections conclude that RES have received feed-in tariffs exceeding the actual cost of the investment in their construction, the respective RES producers will have to pay back to the state the “overcharged” amounts retroactively.

The RES organisations commented in an open letter to the state and the media that the planned amendments are “the toughest and the most illegal thus far”. In their view they are identical to a two previous financial measures against RES producers which cut large chunks of their revenues, and were subsequently successfully contested in court.

TAGS: Bulgaria | renewable energy | renewables | taxes | eergy security | Bulgarian Photovoltaic Association | BPVA) | Bulgarian Wind Energy Association | BGWEA | energy security fund 

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