Bulgaria to receive additional 300 mln euro for Kozlloduy

Bulgaria will receive 75 million euros from the 2010 EU budget, part of the recently approved 300 million euros in further compensation for the early shutdown of two nuclear reactors at the Kozloduy power plant, Bulgarian media said.

The European Commission made a proposal that Bulgaria be compensated by additional 300 million euro for the pre-term decommissioning of units III and IV of Kozloduy nuclear power plant. The EC is expected to submit its proposal to the EU Council, which has to approve the addendum of compensation payments, which in turn will have to be approved by the European Parliament.

Till the end of 2008 the EC allocated 550 million euro compensation for putting out of action the two nuclear reactors. The additional funding would be for the period 2010-2013, if the European Council and the European Parliament approve it.

Bulgaria will use the funds to assist the laid-off workers, create energy sources and implement energy efficiency measures.

Bulgaria was required to shut down four reactors at its Kozloduy power plant as a pre-condition to joining the EU in January 2007. According to the initial deal, the country will have received 550 million euros in compensation by the end of 2009, but Bulgarian authorities have insisted for more funds over a longer period of time.