Bulgarian regulator seeks cap on renewable energy bought at feed-in tariffs

SOFIA (Bulgaria), May 29 (SeeNews) – Bulgaria's energy regulator said on Thursday it has proposed to the energy minister to table legal amendments allowing the regulator to set annual caps on the amount of electricity which the state-owned power utility NEK buys from renewable energy producers at preferential prices.

Support for renewable energy through preferеntial feed-in tariffs has increased disproportionately its share in the country's energy mix and has led to deviations from the market mechanisms of price-formation, the regulator said in a statement posted on its website. This creates prerequisites for the destabilization of the country's energy sector and its economy, it added.

The current law requires NEK to buy at preferential rates all the energy produced from renewable energy sources.

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