Bulgaria Expects EUR 1,600 Mln in Revenues from Greenhouse Gas Emission Trading

Bulgaria Expects EUR 1,600 Mln in Revenues from Greenhouse Gas Emission Trading

In 2020 Bulgaria will be able to sell slightly over 42 million quotas, which means that proceeds of some 1,600 million euro are expected to the national budget in 2020 alone. Environment and Waters Ministers expert Kalin Iliev said this at the 126th meeting of the European Affairs Council held on Tuesday.

Within the meeting representatives of the business and ecological non-governmental organizations got familiarized with reports of the Environment and Waters Ministry and of the Economy and Energy Ministry regarding the Bulgarian position on the European Commission's legislative proposal on climate and energy.

It is envisaged that part of the trading rights be redistributed from countries, having a GDP higher than the EU average, to countries with a GDP lower than the EU average. The European Commission proposes that the greenhouse emission quotas in energy be distributed through a competitive bidding procedure, BTA reported.

Commenting on the EU 10 per cent binding target for renewables, Economy and Energy Ministry expert Milena Tsoleva said that this target should be tied up with the launching of biofuels of second generation on the market.

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