site.btaOver BGN 2.6 Bln to Be Collected in Electricity System Security Fund in 2024

Revenues of BGN 2.609 billion will be collected in the Electricity System Security Fund (ESSF) in 2024. The Fund's budget was approved at Thursday's Cabinet meeting. The largest share, BGN 2.023 billion, is expected to come from the sale of greenhouse gas emission allowances.

The collected funds will cover the costs of the National Electric Company (NEK) EAD, including for past regulatory periods, arising from its status as a public supplier under the Energy Act. From the revenues collected in the ESSF, premiums will be paid to district heating plants and cogeneration plants, as well as to facilities with a total installed capacity of 0.5 MW and over 0.5 MW under the Renewable Energy Act.

The ESSF was established in July 2015 to cover the costs of public supplier NEK arising from its obligations to purchase electricity at feed-in tariffs. By law, 5% of the monthly revenues from the sale of electricity by the generation plants and importers, from access and transmission charges for electricity and natural gas, and from access and storage charges for natural gas, are collected in the Fund. It also receives revenues from the sale of greenhouse gas emission allowances and from the public obligation surcharge.