October 6 (SeeNews) - The Bulgarian Energy Holding (BEH), which is made up of state-owned energy companies, will contribute 650 million levs ($329.6 million/332.3 million euro) to the Electricity System Security Fund to cover compensations extended to businesses to offset a spike in electricity prices, the caretaker government said.
The indicative amount to be paid was determined based on the September profits of BEH's electricity generating subsidiaries as well as their earnings projections for October and November, the cabinet said in a press release on Wednesday.
The decision follows an earlier one by the caretaker government, according to which BEH will contribute 970 million levs to fund state compensations paid out to wholesale end users as well as power transmission and distribution operators. This support measure was included in the revised 2022 budget to alleviate the burden on business of high electricity prices and transmission costs.
(1 euro = 1.95583 levs)