Greenhouse gas quotas distribution for companies under the European scheme for emission trade, after the European Commission (EC) decreased the quotas for Bulgaria, could not be grounds for price increases, Environment and Water Affairs Minister Djevdet Chakurov told a conference organised by the ministry on the challenges before the state and business carrying out the policies for fight against climate change.

The main principle for quota distribution for 2007 and 2008/12 was that, based on company reports of their emissions, the companies received an amount of quotas equal to what they reported they produce, Chakurov said. The European quota distribution scheme included a six per cent increase in the amount of quotas annually. Thus, the companies’ needs were satisfied and there were no grounds for price increase, he said.

Bulgaria was ready to sell the unused quotas under the trade scheme of Kyoto Protocol, but the official decision would be taken after Chakurov filed a report on the issue to the Cabinet. There was already interest in such deals and the benefits for Bulgaria would be significant, according to the minister. The revenue would be invested in energy efficiency and environment friendly technologies.

Bulgaria, together with six other new European Union members, disapproved of the EC decision greenhouse emission quotas in energy field to be sold on tenders, starting 2013. Bulgaria insisted the tenders to be introduced gradually by 2020, Chakurov said as quoted in a media statement.