European Commission’s (EC) decision to decrease the harmful emissions quotas by 37 per cent will put limits on the development and growth opportunities of Bulgaria’s companies in the energetic, metallurgy, cement, paper, celluloses, ceramic, glass and chemistry sectors among others, Bulgarian Industrial Association (BIA) said.

The decision of the EC did not take into consideration the real economic perspectives and the official governmental prognosis of GDP growth of more than 6.8 per cent in 2009 and 2010, BIA said.

Industry’s growing share in the GDP and the fast growth of the carbon-intensive sectors of the economy were also not taken into consideration.

The harmful emissions quota decrease will have a negative financial effect on the companies, as they would have to buy additional quotas, BIA said.

As the average probable price of the harmful quotas was 30 euro per ton, Bulgarian industry’s expenses would raise by 770 million euro per year. The additional expenses could lead to significant raise in electricity and heating prices, BIA said.

According to BIA, EC neglected some key factors such as the closure of units 3 and 4 of Kozloduy nuclear power plant, which decreases the amount of the harmful emissions by more than seven million tons per year.

BIA sent its statement to the Parliament spokesperson Georgi Pirinski, Prime Minister Sergei Stanishev and ministers. The association insists the authorities to take measures needed to prevent any negative consequences on Bulgaria’s economy which could result from the EC decision.