Industrial companies in the EU oppose the fees for harmful emissions

“The introduction of an eco-tax for green energy and CO2 allowances for the activity of large industrial enterprises in the EU will lead to a massive outflow of major investors to third countries where production is not charged with additional taxes and fees,” said Konstantin Stamenov, Chairman of the Bulgarian Federation of Industrial Energy Consumers during the Bulgaria on Air morning broadcast. He stated that European branch associations had already prepared a package of proposals to the European Commission. Businesses call for the granting of special compensations in order to cover energy price increases due to harmful emissions.

Companies in Bulgaria will be most affected by the new regulation because as of, July 1, the price of electricity will rise considerably because of the allowances and the increased volumes of energy generated by Renewable Energy Sources. “According to preliminary data, the charges will rise from BGN 3 to BGN 12 per 1 MWh, excise duty included.” said Konstantin Stamenov. He added that, since the beginning of the year, the aggregate increase in the price of energy resources in the country has reached 20%, given the price hike of electricity on free markets and the recent surge in natural gas prices of nearly 13%. “Bulgaria’s economy will mark a substantial slowdown in 2012 because of increased energy prices,” forecast Stamenov. He expects that large industrial enterprises, in the best of cases, will maintain their 2011 profits and some of them will continue to accumulate losses.

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