site.btaNearly BGN 280 Mln Paid in Energy Compensation in 2024

Nearly BGN 280 million have been paid in compensation from the electricity system security fund to cover high electricity costs from the beginning of the year until December 3, said the Energy Ministry, responding to a question by BTA about the current payments to businesses and other end customers.

The Energy Ministry said that according to data of the electricity system security fund, the from July 1 to December 3 compensation amounted to just over BGN 278 million. The budget of the scheme is BGN 549 million.

The Council of Ministers adopted a scheme for providing compensation to non-household end-users of electricity from July 1, 2024 to December 31,2024, subject to state aid rules. It amounts to 100% of the difference between the average monthly exchange price for base load on the Day-Ahead segment of the Bulgarian Independent Energy Exchange for the respective month and a base price of BGN 180 per MWh.

A check by BTA on the website of the Independent Bulgarian Energy Exchange (BIE) shows that the average base load price for November on the Day Ahead segment is BGN 328.09 MWh, for October - BGN 174.76 MWh, for September - BGN 209.16 MWh, for August - BGN 247.80 MWh, for July - BGN 266.90 MWh.

The Energy Ministry added that separately, under a programme adopted by decision 294/2024 of the Council of Ministers all final electricity such as community centres, religious establishments, kindergartens, schools, children's sports schools are also entitled to compensation. From the beginning of the year until December 3, 2024, they received nearly BGN 1,120,000 in compensation.

The indicative budget for the programme is BGN 50 million for the period from 1 January to 31 December 2024.