The power generation facilities of Bulgaria's Kozloduy Nuclear Power Plant will continue running at half load for an indefinite period of time, thereby incurring a loss of around BGN 25.2 M a month, according to preliminary reports of sources close to the matter.

According to reports of Trud daily, citing data of the Kozloduy NPP, the losses may even be bigger and if the calculations are made on the basis of free market electricity prices.

On June 5 it was reported that the Electricity System Operator (ESO) and the Kozloduy NPP were discussing switching off one unit of the N-plant by the fall of 2013 or reducing the capacity of both due to the weak electricity exports.

The Kozloduy NPP, however, noted that a shutdown could harm Unit 5 of the N-plant which had been loaded with fuel only recently.

"ESO wanted us not to turn Unit 5 on, but we explained that it had to be tested to make sure that it was functioning normally after the refueling," Alexander Nikolov, Deputy CEO of the Kozloduy NPP, told Trud daily.

He made clear that it had eventually been agreed for Unit 5 of the Kozloduy NPP to start functioning at half load, 550-560 MW, on June 10.

Starting Monday, Unit 6 of the Kozloduy NPP will also operate at half load to help Bulgaria cope with surplus electricity.

According to ESO data, the Kozloduy NPP generates 30 % of the energy consumed during daytime and 60% of the nighttime energy consumption in Bulgaria.

The financial condition of the Kozloduy NPP has been deteriorating since the beginning of 2013, with Q1, 2013 profits down by BGN 10 M compared to Q1, 2012.

According to Valentin Nikolov, CEO of the Kozloduy NPP, the company may face bankruptcy if it keeps operating at half load.

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