Yesterday (5 December 2013), the Bulgarian Parliament approved an amendment of the renewable energy law aimed at decreasing the amounts paid to renewable energy producers under the long-term power purchase agreements. Although the wording of the amendment’s provisions, as currently available, is not precise and leaves open many questions that still need to be clarified, the amendment appears not to be in-line with the European Commission’s recent recommendations re. renewable energy and has already generated complaints from Bulgaria’s renewable energy industry associations, who claim the measures would effectively expropriate more than 40% of private investors’ income.

The next issue of Legal Insights, published this coming Monday (9 December 2013), will provide additional details on the amendment and its likely impact on Bulgaria’s renewable energy sector.