On 31 March 2011 the Bulgarian State Regulatory Energy and Water Commission announced the new feed-in tariff for electricity generated from renewable energy sources for 2011.
The new prices are calculated according to the current renewable energy law, namely based on: (i) 80% of the average electricity price for 2010 and (ii) a premium for each renewable energy source which cannot be less than 95% of the premium for 2010.
Contrary to the general expectation, the new Law on Renewable Energy has not come into force before the end of March 2011 which would have postponed the adoption of the new feed-in tariff until June 2011.
The draft of the new law has been subject to heated discussions in the Parliamentary Commission on Energy for the last several weeks and it is likely to be more restrictive with regard to development of renewable energy projects compared to the current law. It is also expected to change the calculation of the feed-in tariff and allow the Commission greater discretion in updating the prices every year (and respectively to impose a more significant decrease of the premiums).
The effective feed-in tariff for 2011 for electricity generated from wind and solar power is outlined in the table below.
Please click here to view table.