From April 1: Major Job Cuts as Bulgaria’s Second-Largest Coal Plant Closes
The second-largest coal-fired power plant in Bulgaria
The Bulgarian Energy Holding (BEH) has launched a procedure to pick a lender that would help it pay off part of its debts.
BEH, a structure managing state-owned assets in the energy sector, is now committed to make the payments under a deal with the AES and ContourGlobal thermal power plants which was reached in the spring.
Earlier estimates suggested the sum amounts to EUR 450 M.
The move, if successful, could help the state-owned National Electricity Company (NEK) partly solve its debt crisis which has been posing risks to Bulgaria's energy system.
April's deal between the state, AES and ContourGlobal was one of the arguments for the national energy regulator to increase prices for household consumers from August 1.
In return, when debts have been settled, fixed prices for electricity generated by the AES Maritza East 1 and ContourGlobal Maritsa East 3 TPPs will go down over the next years, allowing NEK to save some EUR 500 M (BGN 1 B) over ten years.
Preferential pricing contracts were signed under the administration of PM Ivan Kostov (1997-2001), and some experts have argued financial imbalances in the energy system should be partly attributed to the contracts.
Turkey has significantly increased its natural gas exports, with a notable surge driven by the development of the Sakarya gas field in the Black Sea
Elliott Investment Management, led by billionaire Paul Singer, is exploring the possibility of acquiring a stake in a set of Bulgarian infrastructure assets, which includes a key extension of the TurkStream gas pipeline
The liberalization of the electricity market for households — meaning that residential consumers would join the free electricity exchange where businesses have traded for years — is being postponed.
Turkey is advancing its energy strategy in the Balkans with new agreements aimed at deepening its influence in the region
The Energy and Water Regulatory Commission (EWRC) has approved the natural gas price in Bulgaria for May
Bulgaria is set to become the first European country to operate an AP1000 reactor, according to Energy Minister Zhecho Stankov, speaking at a symposium hosted by Westinghouse in Sofia
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase