Bulgaria will cut the feed-in tariffs (FiTs) for electricity produced by photovoltaic plants by at least 30% as of September 1, the chairman of the country's energy regulator, Angel Semerdzhiev, said.
"The global trend, including in Europe, for reducing the rates at which the output of photovoltaic plants is being purchased persists," Semerdzhiev told reporters on Tuesday commenting on the reasons for the decision. He also expressed concern that the green energy supplement in the household electricity bills would not be enough to cover all the expenses related to the increased amount of solar power capacity connected to the power grid.
Semerdzhiev confirmed that the volume of newly grid-connected photovoltaic plants in July was high, but did not provide any figures as the State Energy and Water Regulatory Commission has not received specific data yet.
In August, however, plants with a capacity 30 to 50 megawatts (MW) only were connected to the grid and they are not expected to have any significant impact on power prices, according to the regulator's chairman.
Bulgaria must cover 16% its gross domestic energy consumption with electricity generated from renewable energy sources by 2020 to meet goals set by the 27-nation bloc.