ESO and BDB with a key program to optimize electricity costs for public consumers and Bulgarian businesses
The Electricity System Operator (ESO) and the Bulgarian Development Bank (BDB) are launching a joint program with a key role in the energy independence of public organizations and enterprises. The two institutions are joining forces to increase energy efficiency, reduce electricity costs for public entities and increase business competitiveness.
In the presence of Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev and Minister of Energy Zhecho Stankov, ESO, BDB, the Association of Bulgarian Employers' Organizations and the National Association of Municipalities in the Republic of Bulgaria signed a Memorandum of Cooperation for the implementation of the program for accelerated implementation of RES on public buildings.
“The government has the ambition to create the largest energy community between local authorities and businesses. In this way, the financial burden on electricity bills will be reduced and conditions will be created for balancing the system in a sustainable manner,” explained the Minister of Energy Zhecho Stankov.
“This measure is an opportunity for Bulgarian enterprises. Lower electricity costs for businesses directly mean higher competitiveness. Lower electricity costs for public institutions mean more available funds with which they can implement their policies for high-quality services for citizens and businesses,” said Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev. He added that Bulgarian businesses are facing challenges related to the energy intensity of their production and thanked several institutions with different genesis for making efforts to work together. “I hope that this first step with the help of the BDB will be continued. For me, the potential is huge,” said Deputy Prime Minister Donchev.
The new program of ESO and BDB offers an integrated solution for consumers. It includes an energy survey for the possibilities of building facilities for the production and storage of electricity, construction of the facilities, connection to the electricity transmission system and inclusion in energy communities. The electricity consumption data will be used to forecast the positive financial result of the implementation of RES in the short and long term.
The mechanism will allow public entities such as schools, kindergartens, hospitals, municipalities and private buildings to become energy independent and reduce their electricity costs. Among the main advantages is the fixed price of electricity for the payback period of the facilities. After its expiration, ownership will pass to the consumer, thus ensuring the sustainability of the investment results.
The program will have a high environmental value and will help the active participation of public companies in the transition to a circular economy. The positive economic result of the construction of the facilities for the production and storage of electricity will support the formation of energy communities and will contribute benefits to other members of the community.
The initiative of ESO and BDB will facilitate the deployment of energy communities, within which electricity produced by RES will be shared or stored. The implementation of the activities under the program will support the achievement of national goals for environmental sustainability and corporate responsibility.