Bulgaria's NEK Accumulated BGN 2.9 B of Debts 2010-2014
State-owned National Electricity Company (NEK) piled up debt worth BGN 2.9 B (EUR 1.45 B) in 2010-2014, energy watchdog DKEVR's chief Boyan Boev said Thursday.
Some BGN 1.5 B of the sum are unrefunded costs related to "public electricity supplies," Boev was quoted by website Dnevnik.bg as declaring at a session of DKEVR.
"Investment expenses" amount to BGN 1.4 B, with 694 M of them spent on the Tsankov Kamak hydroelectric power plant and 784 M from the Belene NPP.
DKEVR, the State Commission for Energy and Water Regulation, earlier announced it would give a report on the financial gaps in the energy system.
Its move comes after it declared intentions to seek reduction of electricity purchased from Maritsa Iztok-1 and ContourGlobal Maritsa East 3 TPPs.
DKEVR would also aim at curbing amounts of electricity generated by renewable sources.
Energy system has been considered to be in a dire situation for years, with some experts suggesting the government keeps electricity prices artificially low to prevent mass disgruntlement.
- » Bulgaria Still Pinning Hopes on Gas Hub Project with Russia
- » Bulgaria 'Offers Azerbaijan Energy Cooperation Package'
- » Mining Industry Accounts for 5% of Bulgaria’s GDP – Energy Minister
- » Price of Natural Gas in Bulgaria May Drop by over 13.6% as of October
- » Watchdog OKs Agreement between Bulgaria’s National Power Co, ContourGlobal Maritsa East 3 TPP
- » Bulgarian Authorities Place Seals on 660 Tonnes of Fuel amid Filling Station Probes