THE STATE AND BUSINESS AGREE ON HIGHER COMPENSATIONS FOR ELECTRICITY PRICES

The state and employers have agreed on higher compensation for industrial electricity prices. The consensus was reached after an online meeting between Prime Minister Kiril Petkov and the Minister of Energy.

Employers' organizations have demanded a change in the ceiling on the amounts they can receive as compensation from the state. Until now, business benefits have been limited to a maximum of 30% of the market price of electricity. It was the ceiling that became a source of dissatisfaction on the part of employers' organizations.

Today, after a long online meeting, the government and business shook hands. Thus, at over BGN 185 per megawatt-hour on the free market, the compensation will amount to 75% of the excess. The ceiling remains, but it is already different - no more than BGN 250 per megawatt-hour.

Business expects the new support scheme to be adopted by the government tomorrow. If possible, the new higher compensations were requested to be paid for December last year as well.

"A ceiling of BGN 250 is reached at a stock exchange price of around BGN 520. That is, we hope not to touch it ", commented the chairman of BICA Vasil Velev.

"This will be the maximum amount of compensation, depending on market values, but not more than this amount. We have agreed with the Prime Minister that in the event of any shocks on the market, to monitor and if there is again tension in electricity prices, to consider another type of compensation," said the chairman of BIA Dobri Mitrev.