Over 633 thousand non-domestic customers in Bulgaria will be able to benefit from 100% compensation for the price of electricity above BGN 180 per megawatt hour, after approval by the European Commission. This was announced in Sunny Beach by the Minister of Tourism Evtim Miloshev to branch organizations in the field of tourism. The presence of Minister Miloshev in the largest resort complex in our country was dictated by the declared intentions of protests on the part of the tourist business as a result of high electricity prices for the business for the month of July.
The meeting, held at the initiative of Minister Evtim Miloshev, was attended by representatives of the Sunny Beach Owners’ Union, the Bulgarian Hotel and Restaurant Organization, the Nessebar Hotelier’s Club, the Bulgarian Restaurant Association, the Bulgarian Tourism Association, as well as other representatives of the tourism sector in us.
“The program will run from July 1 to December 31, 2024, and non-residential end customers will be compensated on a monthly basis.
The funds will be paid no later than March 31, 2025,” Minister Miloshev specified during the meeting. “The financing is from the targeted contributions collected in the Electricity System Security Fund”, he added, as it was calculated that the indicative budget of the program will be in the amount of BGN 245 million. For the month of July 2025 alone, the price difference for business representatives in our country amounts to BGN 139 million.
Non-residential end customers will be compensated monthly with 100 per 100 of the difference between the actual average monthly exchange price for the relevant month and the base price of 180 per megawatt hour.
It is expected that the desired notification will be received by the European Commission within 2 months. “Following the decision of the National Assembly on July 26, 2024 and the subsequent decision of the Council of Ministers of July 31, 2024, a letter was sent on August 7, 2024 by the Ministry of Finance and the Ministry of Energy to notify Brussels of this measure” , Minister Miloshev announced, thus justifying the timely reaction of the Council of Ministers to the problem of high electricity prices for businesses.
Compensation of 100% for over BGN 180 bill per megawatt hour applies to all electricity distribution companies on the territory of Bulgaria.
After a decision that it is not state aid by the European Commission, they will be paid by the energy supplier to the legal entities with deduction of current liabilities or directly to the bank accounts of the companies from the energy security fund.
“Tourism is in the most vulnerable situation at the moment, because now are the two peak months for the summer tourist season, July and August, and the consumption in the sector is the highest, therefore the government’s reaction is as fast as possible,” the minister also commented Miloshev.
After the meeting with industry organizations from the tourism industry, held in Sunny Beach, representatives of the sector announced that they are postponing the regional protest announced for August 27, 2024. Minister Miloshev thanked them for the constructive tone and dialogue.
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