State preferences for renewable energy to hit industries, households in Bulgaria
Thursday, 6 May 2010
SOFIA, May 4 (Xinhua): State preferences for renewable energy sources in Bulgaria may hit the budgets of industries and households over the next decade, a new research report warns.
The Bulgarian Industrial Association (BIA) said in a report titled "Low Carbon Energy Economy" presented on Monday that energy produced by renewable sources was significantly more expensive than fossil fuels, and therefore the national goal of producing 16 per cent of energy by renewable sources by 2020 might need to be achieved through extra expenses.
According to the association, Bulgaria's low-carbon goals will cost an additional public expenditure of around 955 million US dollars in 2015, and of some 1.54 billion dollars in 2020.
Meanwhile, it predicted that the pursuit would hike electricity price by 33 per cent for industrial use and 29 per cent for household use in 2015, and by 53.8 per cent and 46.7 per cent respectively in 2020.
Moreover, the BIA warned of possible misconduct of renewable energy producers who may resort to privileged policies such as obligatory purchase provisions and preferential prices in guaranteeing profits for themselves.
The Bulgarian Industrial Association (BIA) said in a report titled "Low Carbon Energy Economy" presented on Monday that energy produced by renewable sources was significantly more expensive than fossil fuels, and therefore the national goal of producing 16 per cent of energy by renewable sources by 2020 might need to be achieved through extra expenses.
According to the association, Bulgaria's low-carbon goals will cost an additional public expenditure of around 955 million US dollars in 2015, and of some 1.54 billion dollars in 2020.
Meanwhile, it predicted that the pursuit would hike electricity price by 33 per cent for industrial use and 29 per cent for household use in 2015, and by 53.8 per cent and 46.7 per cent respectively in 2020.
Moreover, the BIA warned of possible misconduct of renewable energy producers who may resort to privileged policies such as obligatory purchase provisions and preferential prices in guaranteeing profits for themselves.