CEO of Bulgaria's Kozloduy NPP to Turn Loss into Profit by end-2013

Business » ENERGY | August 15, 2013, Thursday // 15:54| Views: | Comments: 0
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Bulgaria: CEO of Bulgaria's Kozloduy NPP to Turn Loss into Profit by end-2013 Bulgaria's Kozloduy NPP, photo by BGNES

Bulgaria's Kozloduy Nuclear Power Plant (NPP) has run up losses of BGN 5.8 M in the first half of 2013, unlike 2012, when the NPP registered a profit.

In a Thursday interview for the Bulgarian National Radio (BNR), Ivan Genov, Executive Director of the Kozloduy Nuclear Power Plant (NPP), commented that the increase in electricity transmission fees had played a role in the second quarter of 2013 and orders for limiting the capacity of the N-plant had started coming in.

"This inescapably leads to poor results," Genov stated.

"The previous government adopted changes at the end of 2012 which technically blocked electricity trade. As a result of the legal amendments, the N-plant has been functioning at nearly 100% of the capacity since the beginning of August. The units are functioning at a good workload and capacity and we have contracts for sales on the free market. This is good, and the legal changes and the opening of the market will lead to the compensation of this loss. I have no worries – we will close the year at a profit. It will not be big, but there will be a profit," Genov said.

"We made the changes we had to make at the N-plant. The people need to work calmly. There were staff cuts at senior positions planned for the Kozloduy NPP, we have removed this managerial level," he added.

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Tags: Kozloduy NPP, Ivan Genov, loss, losses, profit, electricity exports, electricity supply, Nuclear Power Plant
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