The ceiling for compensating the costs of electricity companies will also operate in 2024

The ceiling for the income of electricity producers and compensating the costs of companies above a certain limit will continue to operate in 2024. This is what the deputies decided with the texts of the state budget bill voted on in the second reading.

The MPs rejected the proposal of People's Representative Vladislav Panev to drop the texts guaranteeing the revenue ceiling in question with 32 votes "for", 112 - "against" and 50 - "abstentions".

The price caps for electricity producers were introduced at a time since the beginning of the war in Russia, when electricity prices exploded, Panev commented and demanded that the paragraph be dropped.

Finance Minister Asen Vasilev thanked the parliament for not supporting this proposal to drop the provision. "If this proposal were supported, the ceilings for all Bulgarian industrial electricity producers, which are currently at BGN 200, would be removed. All Bulgarian companies would be at risk of paying industrial electricity above BGN 200, and this would turn inflation on again and to fail the membership of the Eurozone", Vassilev explained.

The text envisages electricity producers with electricity generation facilities with an installed capacity of more than one MW, whose market revenue is derived from the sale of electricity produced by these facilities from wind energy, solar energy, geothermal energy, biomass fuels, waste, nuclear energy, lignite, oil products and peat for energy, from coal and hydroelectric power plants, to make targeted contributions to the Power System Security Fund, representing the positive difference between the market revenue without value added tax and the specified revenue ceiling calculated upon application of the values for the relevant type of manufacturer in the delivery period from January 1, 2024 to December 31, 2024.