Bulgaria Electric Company Plans Investments for BGN 70 M

Business » ENERGY | June 9, 2009, Tuesday // 16:16
Bulgaria Electric Company Plans BGN 70 M New Investments: Bulgaria Electric Company Plans Investments for BGN 70 M The electric company E.ON will invest BGN 70 M for the replacement of power lines and to attract new customers. Photo by Sofia Photo Agency

The electric company E.ON plans to invest BGN 70 M in northeastern Bulgaria in 2009, the company announced Tuesday.

The funds will be used mainly for the replacement of power lines and to attract new customers.

E.ON representatives say the company's main goal is to constantly improve the quality of service and of power supply, but they faced huge difficulties in the last 3 years over price decisions taken by the State Regulator.

"People think that when they pay their electric power bill, the entire amount ends in our pockets. In reality, from a BGN 100 bill, only BGN 26 comes to us. If the current proposal of the State Commission for Energy and Water Regulation is accepted this amount will go down to BGN 20," Boyko Dimitrachkov, member of the E.ON Managing Board stated.

Dimitrachkov further explained that in the first five months of 2009 E.ON registered a 15% reduction of electric power consumption from its biggest clients. At the moment, the amount of overdue bills is estimated at BGN 42 M.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: E.ON

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria