CHUBU ELECTRIC POWER CO GAVE UP TO INVEST DUE TO LOW ELECTRICITY PRICE

Business | January 17, 2002, Thursday // 00:00

Chubu Electric Power Co., one of Japan’s top ten power companies, announced that it would give up its plans to build a liqueified natural gas-fired plant in Dobrich, a town situated in northeastern Bulgaria. The reason for that decision of the Japanese company are the low electricity prices in Bulgaria. A survey conducted by the experts of the company showed that an investment in a plant would be unprofitable. Electricity prices in Bulgaria are USD 0,035 per kilowatthour, which is considerably lower compared to Germany’s 15 cents and Japan’s 25 cents, the experts commented. The project may be launched, thy explained, only in case that prices in Bulgaria rose to 8-9 cents.

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