No new start, but several adjustments: In February, new regulations will take effect for photovoltaics, payment transactions within Europe and social contributions. Some changes have a subtle effect, others are directly noticeable in your wallet.
Photovoltaics: feed-in tariff will fall as of the reporting date
At the turn of the month there is a fine adjustment in the funding of small photovoltaic systems. Anyone who operates a system with an output of up to 10 kilowatts and only feeds excess electricity into the grid receives a fixed feed-in tariff, the amount of which is linked to clearly defined deadlines.
For systems that go into operation by January 31st, the fee is 7.86 cents per kilowatt hour. From February 1st, the rate will drop by one percent, and a further reduction is planned for August 1st. The valid values will be officially published on the specified dates. Around 7.78 cents per kilowatt hour is expected for February.
Euro completely replaces the lev
With the turn of the month, a final step will be taken in Bulgaria, which will above all simplify things for consumers and travelers. The euro will become the sole legal tender, and the transition phase will end with the parallel use of the previous national currency. This means that the lew will finally disappear from payment transactions after it could previously continue to be used.
The exchange takes place at a fixed exchange rate of 1.95583 lev per euro. This rate is not new, but has been fixed for years and corresponds exactly to the historical conversion rate of the D-Mark to the Euro. According to the German Press Agency (dpa), this means for everyday life: Prices can be compared without conversion, cash exchange is no longer necessary and card payments are becoming less complicated – especially for visitors and holidaymakers in Bulgaria.
Beginning of the fasting month of Ramadan
For many people in Germany, February marks the start of a religious period. Around five and a half million Muslims begin the fasting month of Ramadan on February 18th. The exact start is not fixed on the calendar, but depends on the sighting of the new crescent moon and may vary slightly depending on the region.
During Ramadan, observant Muslims abstain from eating, drinking, smoking and sexual activity during the day – from dawn to sunset. The evening is traditionally dedicated to breaking the fast together with family and friends. After the end of the fasting month comes the festival of breaking the fast, also known as the sugar festival.
Short February with fewer working days
February is particularly compact this year. There is no additional calendar day because it is not a leap year and the month normally ends after the 28th. For employees and companies, this has a direct impact on the working rhythm: mathematically, there are around 20 working days. This can have an impact on work volume, billing periods and monthly planning – for example wage payments, project deadlines or deadlines.
Pensions, health insurance and standard of living: effects are delayed
In February, many pensioners first become aware of financial changes that had already been formally initiated before, but have a delayed impact. This primarily applies to deductions and payment amounts that are now being correctly offset or debited for the first time. For pensioners, adjusted additional contributions from statutory health insurance are often only reflected in current pension payments because the billing is not done immediately, as Merkur reports. New pensions also begin for certain age groups on February 1st, provided all eligibility requirements are met at the beginning of the month. In addition, for those with private long-term care insurance, higher contributions often only become apparent with the regular debits this month. In the case of the basic pension supplement, regular income checks can now also lead to changes in the payment amounts. Overall, February will be a first reality check for many households about the ongoing burdens.
Editorial team finanzen.net
