New RE surcharge for Bulgaria

Bulgaria's National Assembly in Sofia

Bulgaria's National Assembly in Sofia

Bulgaria’s 2014 budget includes a new 20% charge on wind and solar energy, according to news reports.

Renewables advocates say the highly politicised decision could decimate investment in the country.

The Bulgarian government has lowered electricity costs for households this year, even as the debt owed to the country’s energy generators has grown, according to Reuters.

Prime Minister Plamen Oresharski claims the renewbles levy will raise about €150m ($104m) next year.

Bulgaria is one of a number of EU countries in recent years that have sought to claw back subsidies previously promised to wind and solar projects.

Renewables lobbying groups in Bulgaria are expected to appeal the budget decision.

Foreign investors have sunk €4bn into wind and solar projects in Bulgaria, Log in to read complete article.

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