Bulgaria's Electricity System Operator, National Electric Co Separate
The final stage of the separation of the National Electric Company (NEK) and the Electricity System Operator (ESO) was wrapped up on February 4.
According to a media statement of the Bulgarian Energy Holding (BEH), the separation of grid ownership and the relevant assets of the two companies was the final stage in the implementation of requirements of the European Commission, also known as the Third Energy Package.
One of the requirements was that ESO be separated from NEK, so that ESO becomes owner of the grid and is solely responsible for its maintenance and investment, while NEK is in charge of the production and commercial activity.
The spin-off was completed thanks to the efforts of experts from the two companies, BEH, the Ministry of Economy and Energy, and was the final step required for ensuring compliance with Directive 2009/72/EC and domestic legislation.
"The separation of ESO from NEK, which makes ESO owner of the electricity grid, will allow the company to start the process of its certification as an independent transmission operator, as a next step towards the development of a competitive and financially stable energy market which matches the requirements of the Third Energy Package," according to BEH.
The separation of NEK from ESO had to be wrapped up a year ago, according to a forecast of then BEH CEO Mihail Andonov, as cited by dnevnik.bg.
Andonov specified the deadline after the EC launched an official investigation into potential abuse of dominant position on the wholesale electricity market in Bulgaria by BEH in December 2012.
- » Cyprus Eyes Bulgaria as Part of Plans to Transit Gas to Europe
- » Bulgarian Energy Commission Chairman: No Problems Expected Concerning EC Approval of NEC Loan
- » Bulgaria Should Prioritize Gas Links with Greece, Romania - EU Official
- » No EU Guarantees for Russian Gas for Balkan Hub To Be Given Soon
- » Heating, Hot Water Prices To Remain Unchanged After October 1
- » Azerbaijan's SOCAR Eyes Entering Bulgarian Oil Products Market