Bulgaria is determined to rescue the Varna thermal power plant, according to Anton Pavlov, Deputy Minister of Economy.

Pavlov participated Friday in a conference titled "GREAT Energy Summit" in Prague organized by the British Embassy Prague and the British Embassy Sofia.

During his visit to Prague, Pavlov met with the Minister of Industry and Trade of the Czech Republic, Jan Mladek, according to reports of Standard daily.

A key topic on the agenda of the meeting was the recent disagreements between power distributor CEZ Bulgaria and the state, and the future of the Varna TPP in particular.

The Varna TPP is to be closed by end-2014, but there is an option for it to keep it functioning after undergoing upgrades which make it compatible with environmental standards.

Pavlov and Mladek agreed to establish a joint working group once the two countries had formed governments (the Czech Republic is holding elections this weekend) in order to iron out problems.

Pavlov claimed that it was essential for the Varna TPP to keep functioning in order to guarantee the stability of power supplies in the entire region.

He pointed out that the Varna-based thermal power plant gained crucial importance in the winter season when the power consumption went up.

Pavlov added that the Varna TPP would become a much-needed unit if Bulgaria was hit by a gas crisis in winter.

He did not rule out the option of the state buying back the Varna TPP in the case of failure to reach agreement with CEZ Bulgaria on its upgrade.

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