Three-year insurance contract of NPS Kozludui JSC expires in March this year and the nuclear power station has to organize an auction for selection of insurer. At the same time the NPS continues not to be insured for nuclear damages in accordance with the Wien convention. The current contract was dealed in March 1998 with Energy that is 50 per cent property of NEC. There is not any Bulgarian company for the time being that is ready to insure the station for nuclear damages. A special research of the risk in NPS Kozlodui made by Independent Engineering Services - London gave the high evaluation of 84 points at 100 possible for risk factors in the station.
Source: Sega (08.01.2001)

The Minister of Finance Mr. Muravey Radev declared that even there can't be found a strategic investor, in the spring is going to start the construction of Gorna Arda cascade. According to him the Government disposes with resources but this extremely important project can not wait. So far there have been spent BGN 5 million for research works and for drilling of one of the Madan's dam tunnel which is the first step to the cascade. The funds are provided by NEC and the construction is executed by Minstroy-Rodopi-Madan.
Source: Sega (09.01.2001)

The cannery company KK Maritza owes for electricity totally BGN 23 478.32. A part of the property is rented and the tenants are correct payers but the factory did not transfer the funds to the electric-supplying company. The electricity in some of the work-shops of the company was excluded and the exclusion will continue in the rest objects.
Source: Zname-Pazardzhik (16.01.2001)

The offer of the National Electric Company (NEC) JSC - Sofia for export of electricity to Macedonia was approved yesterday by the experts of Macedonian monopoly Elektrostopanstvo. The Bulgarian offer is expected to be approved by the Elektrostopanstvo’s Board of Directors today. NEC will provide a total of 235 million kWh until March 31, 2001. The Macedonia company will pay a total of USD 7.5 million for NEC’s electricity. The average price is 3.17 cents for 1 kWh. According to the Macedonian part the terms envisaged in the future contract are very beneficial for NEC.
Source: Black sea (17.01.2001)

183 employees of Minstoy-Madan were dismissed in the first days of January. The Director of the mines construction company Mr. Tanio Staikovski confirmed the dismissals. According to him the dismissals were forced because the company has completed two of its biggest construction objects.
Source: Otzvuk-Smolian (17.01.2001)

The hydro-energetic company Gorna Arda will be made changes, announced the Minister of the Regional development Evgeni Chachev. It is expected that by 8 February when will be conducted a General meeting of the company will be ready the new scheme for distribution of the shares. At this moment NEC holds 95 per cent of the shares in HEK Gorna Arda and the Turkish Jeilan Holding - 5 per cent. It was negotiated that the Turkish company will take 50 per cent of the construction of the cascade, reminded from NEC. The most probable foreign investor will be elected by two companies - Enel - Italy and Tractabel- Belgium.
Source: Standart (18.01.2001)

The state-owned National Electric Company JSC - Sofia will report a profit for 2000 in the amount of BGN 150 million. The revenues from export of electricity amount to USD 105 million. Currently, NEC provide 50 per cent of the electricity deficit on the Balkans, which is about 1 500 MgW. The gross profit of NEC for 1999 was in the amount of BGN 153 million and the net profit - BGN 77 million.
Source: Standart (23.01.2001)

The energy produced at the private HPS Aleko and Sons- Kutela village is already concluded into the state electro-distributing network. The appliance is property of Mr. Aleko Keleshov with the registered company IPZ. At the HPS is included the most modern equipment, claims the owner. According to his calculations the investment will return in 7 years.
Source: Maritsa (23.01.2001)

By the end of the week will be switched off the electricity of 185 subscribers of NEC for unpaid accounts in December 2000. The debtors - 100 per cent from the economic and public sector accumulated a debt in amount of BGN 537 000. GORUBSSO-Madan, the regional flotation factory in Rudozem and Minstroy-Rodopi have the highest accounts.
Source: Sega (26.01.2001)

The Executive Board of PA decided to prepare a strategy for the sale of the National Electric Company /NEC SP JSC/ and the detached parts of it, was reported from the Agency. The strategy will be prepared by a privatization consultant who will be defined after a competition. PA pointed that this decision comes from the new texts in Reconstruction and Privatization of State-owned and Municipal Companies Act. According to the amendments in the Act the objects with a monopoly state can be privatized after prepared strategy which has to be approved by the Council of Ministers and the Parliament.
Source: BTA (31.01.2001)

Bulgaria will succeed to offer the most attractive opportunities for investment in the region, deputy economy minister Hristo Mihaylovski told a business delegation from the Spanish autonomous region of Catalonia in response to the intentions of Spain's Gallina Blanka company to invest USD 4 million in Southeast Europe. The Bulgarian entrepreneurial chamber and the Catalonian association of enterprises for innovations and independent consultant bureaus signed a cooperation agreement. We discussed the possibilities for the participation of Spanish companies in the privatisation of the National Electric Company and the Bulgarian State Railways, Mihaylovski said. A Bulgarian delegation will visit Catalonia and sign an agreement for cooperation in infrastructural projects in the field of water supply, in the construction of waste water purification stations, and in improving the condition of the railway lines. The construction of highways and the rehabilitation of the road network, ports, and the airports of Sofia and Bourgas also present interest for the members of the delegation. A joint Bulgarian-Spanish enterprise for textile production will be opened soon. Negotiations are under way for conceding land for the construction of a factory operative in the food and beverages industry. Two hotel groups have agreed to set up a joint venture to run a hotel in Sofia and another one in Vitosha. For the period January-November 2000 Bulgaria's turnover with Spain amounted to USD 181.10 million, with a USD 3.5 million positive balance for Bulgaria. Catalonia accounts for about one third of Bulgaria's mutual trade with Spain.
Source: Pari (05.02.2001)

The share of the Turkish Holding Jeilan in the joint-venture for the cascade Gorna Arda will be reduced with 15 per cent. This is expected at today’s General Meeting of the Bulgarian-Turkish company HEK Gorna Arda. At the moment the Turkish company holds 30 per cent of the shares in the cascade. The rest 70 per cent belong to NEC. Today it is expected that NEC will raise its share to 95 per cent as it raises the capital of HEK Gorna Arda with 25 per cent. In this way the share of Jeilan will be reduced to 5 per cent. This was negotiated in November by representatives of the NEC and Jeilan at a meeting in Ankara.
Source: Standart (08.02.2001)

After the separation as an independent company in the system of State Agency for Energetics and Energetic Resources we managed to pay our debts, explains the excessive director HPS Maritsa. The company is 100 per cent state property and its activity is producing of electricity. For 2000 HPS produced the negotiated with NEC amount of 200 million kilowatt hours.
Source: Pari (22.02.2001)

Licenses for activities in the area of energetics gave State Commission for Energetic Resource t6o nine companies. NEC JSC Sofia received the right to produce energy from Maritsa-Iztok 3 for a term of ten years. For the activity production of electro-energy from HPS the company received rights for 25 years and for distribution of electricity on the territory of Bulgaria the license is for 35 years.
Source: Pari (22.02.2001)

Agrobiohim has BGN 35 million assets and BGN 96 million debts. The plant can cover only one-third from the receivables of the creditors. At first place among the creditors is Bulgargas with BGN 48.8 million and the second place the National Electric Company with BGN 19 million. The case was called off for March 28. Then is expected the Court to declare Agrobiohim in insolvency and to define a temporary syndic. The production of the company stopped 2 years ago and in it are working 180 employees.
Source: BTA (26.02.2001)

Half of the personnel of TPS Maritza-iztok 3 will be laid-off within 4 years by insistence of the American company Entergy that together with NEC will reconstruct the equipments. Now there are about 1600 employees in the station. According to the Director of Business Development department of Entergy-Bulgaria Mr. Tom Ray the dismissals will be realized gradually and additionally will be dealed the compensations.
Source: Sega (28.02.2001)

In the accepted from the government project for amendments the Energy Law foresees that third countries the admit the electro-supply system of NEC will start from 1 January 2002. In it are not specified the criteria which has to satisfy a certain enterprise in order to enter the group of the big consumers. In the international practice this usually happens with establishment of the amount of annual consumption. In the project of Mr. Dimitar Ivanov is given such a criterion - 1000 million kilowatt hours annually. This is the consumption of metallurgic plants and the enterprises from the chemical industry. If this limitation is accepted in the group of the privileged consumers will be included Kremikovtsi, Stomana, Agropolichim, Neftochim and Chimko, commented from Energoproekt.
Source: Capital (16.03.2001)

The technical project for Madan dam is ready I and the construction of the first step of the Gorna Arda cascade. A report for the effect over the environment was agreed. NEC and the Ministry of the Regional Development and Public Utilities will start the initial construction works and meantime will be opened a procedure for attraction of a strategic investor.
Source: Pari (19.03.2001)

15-20 per cent of the shares of the attractive companies, such as BTC (Bulgarian Telecommunication Company), NEC (National Electric Company) and Bulgartabak, delivering dividends, are to be released on the stock exchange and can be bought against compensatory vouchers only, said Finance Minister Mouravey Radev at a meeting with Varna citizens. Today Minister Radev will sign the regulations on buying the ZUNC interests (Act for settlement of bad credits). These interests account for BGN 520 million. 'Thus the real market of vouchers is to be started', elaborated the Minister. He advised the owners of such means not to sell them for BGN 0.21 - 0.22. The minimum price to be reached by the compensatory vouchers, will be at least 30 per cent of their face value. 90 per cent of the price of the ventures to be sold till end-2001, may be paid by vouchers. It means BGN 170-200 million, assessed the Finance Minister.
Source: Standart (26.03.2001)

Ceylan Holding of Turkey refused to withdraw from the joint venture established together with NEC (National Electrical Company of Bulgaria) for the construction of the "Gorna Arda" cascade. Nikolai Naumov, President of the hydropower company "Gorna Arda" broke the news after a two-day general meeting of the venture yesterday. The holding refused to sell out their shares in the cascade project at their par value, as was envisaged in the agreement between the two companies, explained Naumov. According to the agreement, we cannot pay more than 320,000 levs to them, this is the price of their shares plus the yearly 7% interest, he added. Presently, Ceylan holds 30.1% of Hydropower Company's shares, the remaining 69.9% owns the National Electric Company. We proposed to Mahmud Ceylan to break the agreement between the company and NEC, but he refused, said Naumov further. Thus the problem with Ceylan remains unresolved so far. Recently, Minister of Regional Development, Evgeni Chachev, and Cumhur Ersumer, Minister of Energy of Turkey, agreed upon the withdrawal of the holding from the project and the sale of its shares to NEC or some other Turkish company. Ceylan wanted to be given a chance to negotiate on the sale of shares directly with the strategic investor, after it is chosen, explained the President of the "Gorna Arda" Hydropower Company. He thinks that the Turkish holding refused to sell out its shares because it will make them lose their rights as the chief executor of the project.
Source: Sega (02.04.2001)

The work on Gorna Arda cascade would be restored within 2 weeks, announced the Regional Governor of Kurdzhali Mr. Plamen Ivanov. NEC and Road Agency started the construction of the first objects. Totally BGN 30 million were allocated from the budget for correction of Arda river and for construction of a tunnel under the wall of the future Madan dam. The auction for construction of the future equipment for BGN 16 million, has already been declared. Celain holding is ready to sell its shares in the cascade to the consortium Oxford if its participation in the project would be approved by the Government. The consortium includes Oxford trading, the Southern African Umblaba and ABSA bank and the Turkish company Gujnsail.
Source: Standart (03.04.2001)

The consortium structured by the company V.R.Oxford Trading LTD was not favoured in any way by the State Energetics Regulation Agency, announced the Executive Director of NEC Mr. Danail Tafrov. V.R.Oxford Trading LTD could not respond the requirements for selection of strategic investor for HEC Gorna Arda.
Source: Pari (03.04.2001)

Economic and Investment bank is negotiating for arranging of its claim from Bourgas metallurgic company Promet. The company owes to the credit institution over USD 8.1 million, DEM 266 900 and over BGN 1.2 million. In the end of the last year was acquired an agreement according to which Promet has to transfer Inge voivoda dam in favour of the bank. Promet also has debts to NEC in amount of BGN 6.5 million.
Source: Banker (09.04.2001)

The owners of the sold over the last 8 HPS do not have right to change the activity by the end of the exploitation deadline of the equipment that is usually 25 years., was reported from PA. The annexes to the contracts are referred to the HPSs Pasarel and Kokaliane, united in the cascade Iskur, Pirin and Spanchevo - in cascade Pirinska Bistritza, Petrovo, Ossogovo, Samoranovo and Leshnitza. The change in the clauses of the privatization contracts was made in order to be harmonized the concluded deals of detached parts of NEC with the entire strategy for privatization of the branch.
Source: Standart (18.04.2001)

The slow reforms at the energetic sector gives reasons for concern. This is said in the report of the European Bank for Recovering and Development, which is represented for at the tenth annual meeting of the Bank at London. The privatization of NEC and the still limited prices of the energy also do not present the country in a good light and are reason for the weak interest of the foreign investors. According to the Institute for International Finance the prognosis for development of Bulgaria are positive. After 2002 the growth of the real gross domestic product will reach per cent and is the highest for the countries of Central and Eastern Europe.
Source: Pari (23.04.2001)

Until recently the companies have to transfer their taxes only through banks. From this year on thay also may pay the sums cash in the tax offices. Nevertheless the payments still are mainly through bank. The tax offices work with 6 banks. They are TB Biochim, TB Hebros, Expressbank , Bulbank, UBB and Bank DSK.Bulbank attends Bulgargas, the management of the air traffic. The same bank attends also the Ministry of Defence, NEC, BSR .
Source: Sega (23.04.2001)

The first private mini HPS =, constructed by the so called method at the open-areas, started working near the village of Polena, Simitly municipality. The appliance is constructed over the Sushichka river and costs DM 1.2 million. An investor and proprietor of the object is Demal AM Ltd. - Sofia with manager Dimitar Sokolov, former deputy-minister of the Energetic and councilor on the energetic issues of the former president Djelio Djelev. The mini-station works with total capacity of 500 kilowatt hours and may supply 130-140 subscribers. The appliance is connected to the national energetic network. According to the contract the produced energy will be purchased by Electrorazpredelenie - Blagoevgrad which will send it to NEC. At a price of BGN 0.05-0.06 the investor will return its money for five years.
Source: Pari (24.04.2001)

The construction of the Nuclear station in Belene is not profitable since there can not be found strategic investors. It is more profitable the investments to be pointed to the reconstruction of the complex in Maritza-iztok and TPS Varna.
Source: Pari (25.04.2001)

The Ministry of Economy and Ministry of Internal Affairs are starting inspections for non-licensed traders of ferrous and non-ferrous metals when the new decree for trade with such production became efficient. For those traders that have licenses it is not necessary to take licenses again. The traders without licenses will not be able to work with proxies from licensed companies, according to the Act. The license fee was reduced from BGN 7000 to BGN 3000. The fine for the violators of the decree will be from BGN 15 000 to BGN 50 000 and at system breaks the Ministry of Economy will deprive the licenses.
Source: Dnevnik (27.04.2001)

The Supervisory Board of PA approved its report for the first quarter of the current year. For the period January 1 - March 31, 2001 PA opened 21 procedures for privatization - 7 for shares of state-owned companies and 14 for detached parts. Over the quarter were concluded 3 deals for minor stakes of shares from the companies Han Asparuh JSC - Isperih, Transmach engineering JSC - Sofia and Mesokombinat - Jambol JSC. The stakes were sold through the centralized public auctions. From the concluded deals over the quarter were dealed payments for BGN 8.634. From them BGN 1.693 are in cash and the rest - in non-monetary payment instruments. However the real incomes from the concluded deals are BGN 7.010 million.
Source: BTA (03.05.2001)

Stara Zagora District Court registered Elektrorazpredelenie-Stara Zagora SPJSC. The head-office and the address of the company is Stara Zagora, Pasii Hilendarski 89 Str. The activity of the company is exploitation of the distribution network, the capital of the company is BGN 1 882 000, distributed in 188 200 per sonal shares, property of the State. The Board of Directors of the company consists of Mr. Hristo Hristov, Mr. Stefan Zamanov, Mrs. Tzanka Ganeva, Mrs. Galina Tosheva and Mr. Atanas Stoyanov. The company is represented by the Executive Director Mr. Stefan Zamanov.
Source: State Gazette (04.05.2001)

The Government approved a report of the intergovernmental working group and letter for support of the project for construction of new capacity at the platform of TPS Maritza-Iztok 1 and for rehabilitation and renew of TPS Maritza-Iztok 3 of the American investors AES and Entergy. NEC has to negotiate in connection with the included 21 recommendations in the report. One of the recommendations is to be reduced the price at which NEC will buy up the electricity from the two stations.
Source: BTA (11.05.2001)

The deal for Maritza-iztok 1 may be broken if by the end of the month there are not results from the negotiations with NEC and State Energy Regulation Agency. This was stated by the Director of the Bulgarian station Mr. Richard Mardon. According to him, Bulgaria will lose USD 850 million investments and the energy balance sheet in the State by 2020 will be broken. This will happen because of the stop of a part of the energy capacities for reconstruction. In the draft contract is signed that NEC will buy-up the electricity at a fixed price for 15 years. The dealed return of profitability of 17.5 per cent is normal considering the economic situation in the State.
Source: Standart (14.05.2001)

The construction of the flank-road and the deduction tunnels for the cascade Gorna Arda may start at the beginning of the summer as a part of the preparation for the construction of the hydraulic appliance itself. It is expected that Agency "Roads" and NEC will elect executives by the end of May. "Within 25 May will be known the constructor of the flank road Rudozem-Kardjali and the deduction tunnels," announced the Minister of the Regional Development and Public Utilities Evgeni Chachev. Until 1 May NEC was accepting the offers for Madan dam and HPS Beli Izvor. There is no official information for the result. Although the joint-venture between NEC and Jeilan has not started Turkish companies may participate as sub-contractors in the construction of the dam and the station.
Source: Dnevnik (14.05.2001)

The Manager of Petreko SARL Mr. David Archer declared that over the winter of 2002 the company expects to start a real extraction of natural gas from the field near Galata. Until then the negotiations with the clients of the gas field have to finish. There has already been signed a memorandum for agreement with Bulgargas. The contract with Petreko is for 25 years but on real the life of the field is evaluated between 4 and 5 years. According to the contract the company is engaged to invest at least USD 49 million but the amount will reach USD 65 million over the next 2 years.
Source: Dnevnik (17.05.2001)

More than 6 billion kilowatt hours electricity will export Bulgaria during 2001 , announced the executive director of NEC Mr. Danail Tafrov. By the end of April this year will be exported 1,250 billion kilowatt hours . The total export of electricity for the first three months to neighboring countries was 1.950 billion kilowatt hours, explained from NEC. Bulgaria sales electricity to Greece, Kosovo, Serbia and Macedonia. The contracts with Kosovo and Yugoslavia are seasonal and at this moment NEC negotiates with Greece. The agreement between the two countries foresees that the export will reach 4 billion kilowatt hours. This will happen after the construction of the new 400 -kilovolt distribution-line between the two countries. It will be built by the end of the autumn and will enter into exploitation during the winter. The project has a value of BGN 58 million and is financed by NEC. For it were allocated 30 per cent of the investment that the company will realize in 2001. The second connection between the energetic systems of Bulgaria and Turkey is of total length of 220 km. 60km. of which are on the territory of Bulgaria. The construction of the appliances was postponed with 2 years because of arguments over the financing of the project
Source: Standart (21.05.2001)

NEC will invest BGN 11 million in the preparatory stage of the construction of the cascade Gorna Arda, stated the Executive Director of the company Mr. Danail Tafrov. The funds are for construction of tunnels and correction of Arda river and the deadline for execution is 13 months. Today will be signed the contracts with the companies which won an auction for construction of the first objects of the hydroenergy equipment. The funds for the construction of the ring-roads will be provided by Executive Agency Putishta.
Source: Standart (21.05.2001)

A newly-established section of NEC JSC will use the developed by David Holding system Arhimed 2000 for management of its technical archives. The point is to become easier the admission and management of many formatted plans and documentation. Recently has finished the pilot project that includes 5 work-places. Arhimed - Startov project includes one license for Archimed IDMS Server, 5 licenses for Archimed Desktop Clients, 5 for Fine Reader 4 Sprint è 5 for Archimed EDSD
Source: ComputerWorld e-Daily (21.05.2001)

Minstroy holding sent letter to the Prime Minister Mr. Ivan Kostov in which insists for inspection the way of organization of the auction for construction of the wall of Madan dam, a part of the cascade Gorna Arda, was reported from the holding. Minstroy holding will put forward an official complaint directly in Sofia City Court against the procedure of the auction.
Source: Standart (23.05.2001)

By the end of the year in exploitation will enter new 400-kilovolt distribution line between Bulgaria and Turkey, which will connect HPS Maritsa-Iztok 3 with the Turkish sub-station Alibeikioi. According to the director of the Energy Agency Mr. Ivan Shiliashki with the new distribution line the deliveries of electricity for Turkey will be more than 4.5 billion kilowatt hours annually. The executive director of NEC Mr. Danail Tafrov confesses that the appliance will not allow deliveries beyond the negotiated amount of 4.5 billion kilowatt hours until 2008. "Additional export beyond what was negotiated at this stage is impossible. On the territory of Turkey will have to be made corrections over the sub-stations through which Turkey receives energy from Bulgaria", said Mr. Tafrov. At this moment NEC exports electricity only for Turkey and Macedonia. In the export for Macedonia are included 100 megawatts power. By the end of the year it is expected that the total export of electricity from the country will reach 6 billion kilowatt hours. At this moment are investigated the opportunities for the construction of 400-kilovolt distribution-line to Macedonia. NEC plans to enter new markets as at the moment it negotiates an export for Italy , announced Mr. Tafrov. The company has an offer from the international giant Enron for an export of 100 megawatts electricity for Italy, and the idea is that it will transported over the new distribution-line from Italy to Greece under the Adriatic sea. USA also support the project for connection of the Bulgarian energetic system with those3 of Greece and |Italy, announced the Mr. Mcfarnen , councilor of the former American president Ronald Reigan.
Source: Capital (25.05.2001)

Minstroy - Rodopi owed BGN 115 000 for electricity to Elektrorazpredelenie - Plovdiv, was reported from NEC. From them BGN 90 000 is the unpaid amount to Smolian branch and BGN 25 000 - to Kurdzhali branch. The funds were accumulated over the engineering and geologic researches for the cascade Gorna Arda over the last 2 years. Minstroy - Rodopi is a part of Minstroy-holding.
Source: Monitor (29.05.2001)

By 20 per cent from BTC, DZI, DSK, Navigation Maritime Bulgare, NEC, Bulgargas, Bulgartabac and Trade Bank Biohim will be launched for privatization against Compesatory Vouchers. This will be a part of the election programme of National Movement Simeon II (NMS II). The economic team of NMS II developed offers that will create a real market of Compesatory Vouchers. Beside this the trade with Compesatory Vouchers will be remitted and will be made an uniform register for all Securities and will be listed on the Stock Exchange.
Source: Standart (31.05.2001)

The Czech-based Energo-pro company, selected as buyer of Sandanska Bistritsa cascade at the end-2000, asks for support of the international institutions to complete privatization proceedings. So said Jiry Krusina, chairman of the Directors' Board. After a 4-month attempt to get in touch with the new chairmanship of the Privatization Agency (PA) we were informed by a letter dated May 16 that a decision was taken to terminate the procedure, Krusina said in bewilderment. The Sandanska Bistritsa procedure is stopped since the parameters attained are unprofitable for the seller, commented PA's CEO - Levon Hampartsoumian. Energo-pro filed a claim with the Supreme Administration Court against the decision of PA from April 19 to terminate the sale's proceedings. The future of the largest Czech investor in Bulgaria from 1990 on, will depend on the outcome of the case. As early as November 16, 2000 the former PA's head - Zahari Zhelyazkov, earmarked the Czech Energo-pro company as an exclusive buyer. The contract was to be signed in 30-day term at the agreed price of USD 33 million which had to be paid 50% in compensatory vouchers and 50% in cash.
Source: Standart (04.06.2001)

The German company Siemens and the US Sempra take interest in a change if the fuel base of TPS Bobovdol where the station to burn local coals and natural gas at the same time. A special research of Energoconsult by order of NEC and Siemens showed that about 7-8 per cent of the fuel may be natural gas and in this way the capacity of the station will increase and its efficiency will become higher. Bobovdol is one of the power stations with the most expensive production but can not be closed since this will cause big social problems.
Source: Sega (06.06.2001)

At NEC was officially opened the installed Management Information System SAP R/3, announced from the presscentre of the company. The five modules of the system worked successfully for six months already. NEC is the first Bulgarian company in which works the world famous software system SAP R/3, installed by the Austrian company Al Informatics.
Source: ComputerWorld e-Daily (07.06.2001)

Bulgargas and NEC are preparing to enter in the telecommunication branch as operators of nets for fixed telephones. The national gas supplier intends to compete with BTC after its monopoly finishes on January 1 2003, announced the chief executive of Bulgargas Mr. Kiril Gegov. The project of the company is to start telecommunication services. Bulgargas has its own net that serves its own needs. It is built of copper cables that are near the gas-supplying system. The general length of the gas-supplying net in Bulgaria is 2800 kilometers. The company is constructing a new digital system and until the end of the year there will be 350 kilometers of optic cables. Bulgargas has invested in satellites so far. A typical example for the participation of gas-company in the telecommunication business is the Russian Gasprom. It has a satellite Jamal 100 since 1999. It is used for transmission of 12 digital televisions. The plans of NEC to enter the telecommunication branch were announced by the chief executive of the company Mr. Danail Tafrov. It has an optic cable from Sofia to Plovdiv. It is expected a new optic cable connecting Sofia with Mizia to be constructed soon. In four years time, the company will have optic cable net connecting Sofia - Plovdiv - Bourgass - Varna - Pleven - Mizia. There is an optic cable connecting Bulgaria and Turkey too.
Source: Capital (09.06.2001)

NEC and the atomic station negotiate a deal in which the used nuclear fuel will be exported to Russia against payment with Bulgarian electricity which will be exported to third countries. According to the planned scheme the nuclear fuel will be returned to Technosnabexport from Energy Invest. The registered in Lihtenstein off-shoe company will pay for the export operation. On the other hand it receives APS Kozlodui electricity - about 100 megawatts which it will sale in Yugoslavia . Because the law in Bulgaria protects the monopoly of NEC in purchase of electricity from the producers and the export an operation of that kind is illegal. That is why in the scheme is included NEC which purchases the fuel from APS Kozloduy and transports it to the border. There the electric company sales the electricity to the German RWE which partners Energy Invest in the sales on the territory of Yugoslavia. According to source near to NEC the contract of the electro-company with Energy Invest is already signed. The total value of the deal is between EU 28.6 and 33.6 million. From Energetic Agency and NEC explained that they sale the electricity to RWE and Energy Invest because during the summer Serbian do not need electricity and their sqales decrease and there is a risk of direct export for Yugoslavia. The executive director of APS Kozlodui Mr. Jordan Jordanov explained that according the contract for purchasing of electric power with NEC this year may be sold only 18.700 billion kilowatt hours. And APS Kozlodui may produce 20 billion kilowatt hours that is why they will try to make NEC sale more than the planned quantity in order to pay the nuclear fuel. In this deal for additional export of the used nuclear fuel will practically be free.
Source: Capital (09.06.2001)

At the presence of the Prime Minister Mr. Ivan Kostov, the Directors of NEC and Maritza-iztok mines Mr. Danail Tafrov and Mr. Petko Petkov signed the major contracts for the projects on the TPSs Maritza-iztok 1 and Maritza-iztok 3 for which has been negotiating for 4 years now. Over the next 6-9 months the two American companies - AES and Entergy will take the bank loans and will start the work on the two projects. After 2004 the two stations will provide 25 per cent of the produced electricity in Bulgaria. The share of Maritza-iztok 1 will be between 10 and 11 per cent.
Source: Sega (14.06.2001)

The evaluation of the four blocks of HPS Maritsa-Iztok 3 is USD 67.2 million according to experts, appointed by the court. The assets of the station will be inserted into a joined venture between NEC and the American company Entergy, which will rehabilitate the HPS. Apart from the evaluation of the court NEC has assigned to the companies Deloit and Tush and Pricewaterhouse to make an independent evaluation. The difference in the values is only USD 1 million. After the rehabilitation the manufacture of the station will increase to 5.5 billion kilowatt hours annually according to the 15-year contract with NEC. Nowadays the HPS may produce maximum 4.6 billion kilowatt hours.
Source: Democracy (15.06.2001)

During the |International Energetic Forum in Varna surprisingly fell off the report prepared by the chairman of the Union of the Energetic Prof. Stoyan Batov, former chairman of the Board of Directors of NEC Prof. Konstantin Shushulov and the former head jurist of the electricity company Mr. Sasho Chobanov - both were dismissed last year by Mr. Ivan Shiliashki. Although not very significant this incident shows that the conflict round NEC and the way chosen for its re-structuring is not the perfect.one
Source: Capital (17.06.2001)

After nearly five years of postponing the negotiations with the American companies AES and Entergy were finally signed four days before the elections. The project of AES foresees the construction of a new power of 670 megawatts in Maritsa-Iztok 1 and those of Entergy rehabilitation of the existing four energy-blocks with total power of 840 megawatt at TEPS Maritsa -Iztok 3. The investments in the two projects are different anf kilowatt hour of Maritsa-Iztok 1 will cost to NEC USD 0.447 with price of the electricity of Maritsa-Iztok 3 USD 0.392
Source: Capital (17.06.2001)

A change and addition of the Decree 147 of the Council of Ministers from 1999 for development and execution of the programs for financial healing and supervision of the financial state of the State’s enterprises was approved on 15 July. The decree 147 put the State’s enterprises in special regime which accumulate negative financial results and were a risk for the payment account of the State. The enterprises were with limited access to credit resource.The results of the reform in the energetics allow the companies that have positive financial result to work without limitations from Decree of 1999. According to the changes for the TEPS, AEPS, NEC and the seven electricity-distributing companies will not need programs for financial healing, limitations for the access to credit resource.
Source: Pari (18.06.2001)

Bulgarian State Railways (BDZ) owes BGN 64 million to the State budget, announced the Financial Director of the company Ms. Gergana Ivanova. BGN 4.5 million are the debts for deliveries of equipment and fuels, added she. The company also owes BGN 23 million to NEC for electricity. If BDZ do not pay its debt to NEC, the latter will stop the electricity of objects that are not directly connected with the movement of the trains and the security systems.
Source: Monitor (19.06.2001)

Within several days Bulgaria will export electricity for Kossovo and Yugoslavia, stated the Director of State Energetics and Energy Resources Agency Mr. Ivan Shiliashki. According to Director of NEC Mr. Danail Tafrov the prices are good but he refused to point the concrete amounts. By the end of June will be ready the technical expertise on the offer of the German company RWE Rainbraun for 35-year license for use of TPS Maritza-iztok 2 and of the lignite mines. The offer is for DEM 500 million.
Source: Pari (19.06.2001)

A green light was given to the projects of the American companies AES and Entergy for Marica-Iztok 1 and 3. The first one could be a problem for the State and NEC. This week starts the barter for export for Yugoslavia and Kosovo for the return of the used nuclear fuel of APS Kozlodui in Russia. This type of deals give a lot of opportunities for destination of financial means in the "right" direction. Two days before the elections it was announced that NEC is withdrawn of the lists form healing and they received a free access to bank credits. During the last few months of the government were released the auctions for construction of some parts of Gorna Arda. This predetermines that the complex will be built although there still are arguments whether there is use of it or not. It is not a fortuity that a conflict for legality of an auction occurs and Minstroy initiates an proceedings against NEC.
Source: Capital (24.06.2001)

The most modern and powerful private electric station built recently in the village of Srednogortsi, already functionaries and is connected to a parallel of the national network, announced the chief engineer of the company proprietor Dimitar Dimitrov. Its owner is SP Djivko Yanakov. The station has already sent through the distribution lines more than 300 000 kilowatt hours energy as it successfully passed the irst experiments. Now it is foreseen that the object will be accepted by the last commission and the WPS will be released in exploitation officially within two weeks.
Source: Otzvuk-Smolian (27.06.2001)

The Czech company Hidropol will invest BGN 12 millions in the construction of HPS on Iskar river near Roman. The plant will be built within the end of 2002 and will produce 25 millions kilowatt-hours energy. By the end of the year the project will be ready and the delivery will start as of next year.
Source: Monitor (09.07.2001)

The Price of the steel will rise with 4 per cent by the end of this year because of the high prices of of the energy resources and the larger expenditures for purchase of ores. Bulgaria follows strictly the limitations for the export and is already out of the Black list of the countries that make financial dumping, announced the executive director of Kremikovtsi Mr. Valentin Zahariev. The metallurgic giant has already paid BGN 400 million from the total quantity of BGN 850 million debt to the National Insurance institute. It pays its bills to NEC and Bulgargas on time.
Source: Monitor (13.07.2001)

The National Electric Company sent during last week an official letter to the management of Chimko that because of the irregular payment of the debts from the fertilizer plant it intends to get an executive letter, announced Mr. Danail Tafrov, executive director of NEC. The debt of the plant in Vratsa is about BGN 20 million. Few months ago Chimko used to pay its debts in accordance with the plan for the implements but recently they stopped to service the obligation. NEC does not intend to stop the electricity supply for t5he plant because does not have the technical opportunity to do it. The financial director of the plant Mr. Plamen Jordanov explained that during March was signed a contract for the Implement payment but refused further comment. According to the Law for the State Budget for 2001 for the payments that are not received by NEC in term the monopolist could get an executive letter on the grounds of the bills if the they have not been paid after receiving a written invitation in term days. If the debtor does not pay in the plant will enter an executive judge who will sale the property of the plant until the creditor is satisfied
Source: Capital (15.07.2001)

NEC handed the company Chimko a warning letter for a debt of BGN 20 million for not paid accounts for electricity. The Financial Director of the plant Mr. Plamen Jordanov declared that the claim of NEC will not affect the payments of Chimko.
Source: 24 chasa (16.07.2001)

HPS Batak has already been switched on and off from the Central management system to NEC in Sofia. This became possible after the rehabilitation of the station with financial aid of the Swiss Government. The computers and electric systems were changed.
Source: Novinar (17.07.2001)

Solvay - Sodi will invest USD 200 million in TPS Devnia that will start to use natural gas instead of coals, declared the Executive Director of the company Mr. Paul Jaklo. The company hopes the energy market to be liberalized so the station would be able to sell to other buyers except NEC. The Belgium company officially received the first in Bulgaria pilot permission for complex prevention and control of the pollution. According to the engagement, taken before the World bank on the loan for support of the environment, all big companies like Solvay - Sodi, Chimko - Vratza, Union Miniere Pirdop med and others have to receive such a permission within October.
Source: Dnevnik (19.07.2001)

During 1998 was approved the technical-economic grounds of Toteme company for rehabilitation of the first three blocks of HPS Varna. The rehabilitation will extend the term for exploitation of the blocks with 18-20 years and the station will be able to burn coals with larger diapason. According to exoperts the project will cost USD 120 million. In the beginning of August were released the offers for the auction. The deadline for application was September the same year but it was extended by 30 November Offers apply 11 companies - one of the biggest operators of electric stations in the world. They are ABB - Switzerland, AES Electric - USA, EDF International - France, Entergy Power Group - Great Britain, Exxon Power Instrument Company - USA, Marubeni Euro Power - Great Britain, Mitsubishi Corp. -Japan, National Power - Great Britain, NRG Energy - USA, Skoda Energo - Check, Union Fenosa - Spain.
Source: Capital (21.07.2001)

The present chairman of the State Agency for Energy and Energetic Resources Mr. Ivan Shiliashki have negotiated to himself work sat the company under his management Energoproekt. It is supposed that he will take the place of the recently dismissed director of the department Vodno-elektricheski centrali Mr. Petar Petrov. Recently the PA announced procedure of privatization of 78 per cent of Energoproekt. In the beginning of the last year was registered a Working-managing company Energoproekt engineering by which the employees will try to purchase the project company.
Source: Capital (21.07.2001)

Charles Redman (vice-president of the American construction giant Behtel) has met the Turkish ambassador in Sofia for the project Gorna Arda and the participation of Jeilan. The Turkish ambassador declared that the Turkish companies agree to invite international companies for joint-venture. An agreement of this kind has already been signed between Jeilan Behtel and the consortium Oxford. According to him Jeilan is ready to sell its share in the company for construction of the cascade Gorna Arda (joint Venture with NEC) to Oxford if the participation of the consortium in the project is approved.
Source: Capital (22.07.2001)

The announcement of members of the economic team of the national Movement Simeon II that the contracts with the American companies Entergy and AES should be re-negotiated is not the best start for a government decided to attract international investments in Bulgaria. This was said in the last report of Economist Intelligence unit for Bulgaria, quoted by Roiters last week. The contracts for the two projects with the American energetic giants were approved by the Kostov government. The project of Enetrgy foresees investmen tof USD 470 million for modernization of HPS Maritsa-Iztok3 and those of AES - investment of USD 930 million for construction of new powers for HPS Maritsa-Iztok 1.
Source: Capital (22.07.2001)

The vice-minister and Minister of Finance Mr. Vasilev announced that the program of the government in the area of energetics is directed towards full privatization and liberalization of the sector. The Government hopes that the contracts with the American companies AES and Entergy will not enter into contradiction with the program of the Government. It is expected that at the second wave of privatization on the capital market will be released some parts of NEC.
Source: Capital (29.07.2001)

NEC will not receive the paid bills in advance as the lawyer from Plovdiv Mrs. Emilia Nedelcheva won at the Supreme Administrative Court important texts from The Ordinance for the Attachment to Supplying and Distributing system. This document was signed by the former vice-minister for the "Kostov" government Mr. Petar Jotev.What is practically changed in the relations between Nec and the subscribers. According to the decision of the Supreme Administrative court the monopolist has no right to stop the electricity supply on the debtor unless this is a condition of the contract between them. Also NEC has no right to cut the electricity of the companies which have not paid their bills in advance. If someone does not pay his debts interests are accumulated. In no case there could be any form of administrative measures. This Ordinance is a violation against the Law for Protection of the Competition.The specific ground for was the case of TB Biochim and Association for European Integration and Human Rights which have received ultimate letters for payment of an enourmous bills otherwise their electricity-supply will be cut off.
Source: Maritza dnes (29.07.2001)

The Supreme Administrative Court gave right to NEC to stop the energy supply without notifications. The decision could not be appealed.
Source: Pari (01.08.2001)

The thermal-supply companies report two times bigger losses - USD 27.8 million for the first six months of 2001 in comparison with the same period of the last year. At the moment 21 of the companies are 100 per cent state-owned property and service 20 per cent of the population of Bulgaria. The reasons for the bad financial results are the higher prices of the natural gas and coals. For 2000 the reported loss was about USD 13.5 million. The budget subsided the thermal and coal extracting companies with USD 273.4 million over the period 1997-1999 for covering of the losses.
Source: Dnevnik (01.08.2001)

The profit of National Electric Company for 2000 is BGN 207 125 million, according to the annual report of the company. The company registered a growth in the production of electricity with 2 674 billion kwh in comparison with the former year. The consumption of electricity in the State keeps the level of 1999.
Source: Standart (03.08.2001)

Until the question for the government was discussed apparently by someone’s order the energetic monopolists with understandable tolerances were overindulging their clients - no raise of the prices, no pressure for payment of the bills, not even a word for confiscation of property. Population and companies were lighted and heated for free, some of them for half a year or more A month after the elections it was clear that it time to pay - with the interests. For half a year heat-suppliers have accumulated a debt of BGN 70 million to Bulgargas and if they do not pay it they will have to be shut down. Bulgargas which is in a regime of strengthening may stop its payments to the budget again. Electricity enterprises on the other hand can not pay to NEC in order to buy electricity.. It is already clear - the simulation of reform in the energetics started to give bitter fruits.
Source: Capital (05.08.2001)

The National Electric Company (NEC) expanded the markets for export of electricity in the Balkans, after on Friday it signed a contract until September to supply 100 mega-watts for Yugoslavia "The export will start when the Serbian electric company sends a letter of credit to Bulbank," announced the executive director of the electric company Mr. Danail Tafrov. Our western neighbour has a lack of electricity but the problem is that it cannot pay to supply it. The price on which NEC supplies the electricity is less than 3 cents per kilowatt hour. "NEC negotiates an export for Macedonia and Kosovo also," explains Mr. Tafrov. The deliveries for these countries was stopped in the beginning of the year. In this moment the company exports electricity for Turkey, Albania and Greece
Source: Dnevnik (06.08.2001)

Electrosnabdiavane - Stolichno introduces new schedule for payment of the bills in electricity-distribution region - Sever which includes the regions Oborishte, Poduiane, Serdika, Nadejda, Kremikovci and Slatina., announced from the company. The subscribers there will pay their bills directly for the previous month. By this moment the payment was two months later. The schedule is inconvenient in another way - during September the affected 154 625 people will have to pay two bills at the same time - for July and for August. They will be given a longer term for payment. As it was until this moment there will be three periods of payment depending on that when were the electrometers were inspected. The summer period for introducing the new schedule was especially chosen because of the lower consumption of electricity, explained from Elektrorazpredelenie. It is expected that the new schedule will be installed in the rest of the regions of the capital within the next summer but it is not decided yet. 157 800 are the unpaid bills for July. 6711 of them are company bills which pay in cash. The sum of the unpaid bills is BGN 1.850 million. This is 19 per cent of the total consumption of energy.
Source: Democracy (07.08.2001)

NEC stopped to supply Water Supply and Sewerage - Dobrich with electricity because of debts. The debts of the association amount to BGN 2.3 million. The administrative building and the emergency center are without electricity. The water pumps, which extract the water, work. The other big debtors of NEK are Kavarna Municipality with BGN 151 000 debt, the hospital in Dobritch - BGN 150 000, Troleibusen transport owing BGN 144 000. The debts of households amount to BGN 83 000. The electric company has warned the debtors that it will attach their bank accounts.
Source: Black sea (08.08.2001)

National Electricity Company stops the electricity supply of Plovdiv municipality because of a debt of BGN 3.5 million, announced the speacker of the company Mr. Rumen Dimitrov. More than a week ago the company sent a warning letter taht the deadline for the payment of the sum is already over. Yesterday was the last day in which the money could be transferred. Until yesterday the total debt of the population of Plovdiv to the NEC was BGN 471 000. In this moment tr=here is a large action for cutting off private subscribers. We can make no more compromises, says NEC. The electricity supply for hospitals and kindergardens will definately not be stopped.
Source: Maritsa (09.08.2001)

On June 30, 1999, 75% of the assets in the Radomir-based plant Leko Ko (a former division of the one-time metallurgical giant, built in Chervena Mogila) were sold at BGL9BN (before the BG lev's denomination) to a consortium between the management-employee company (MEBO) Radomir-Leko Ko-Invest and the private Eurometal OOD. The buyers undertook a commitment to invest in the enterprise the huge amount of BGL11.6BN (prior the BG lev's denomination). This promise, however, remained just a promise, and in end-May 2001 the Executive Director of the Privatisation Agency Plamen Stoilov, responsible for post-privatisation control, announced that defaulted owners of the metallurgical plant will have to pay a substantial penalty exceeding DEM2MN. Meanwhile, shareholder castlings were made in the company. Kalin Rushkov-procurator of the companyq announced that Eurometal ODD sold its 34% share participation in Leko Ko to the US company I Fai, registeerd in the offshore zone of Delaware. The remaining 41% of the company's assets are in the hands of the MEBO Radomir-Leko Ko-Invest, and 25% are held by the State. Until then the company was managed by the executive director Sabin Spahiev. Nearly 98% of the plant's output is intended for export - Sweden and Finland, Denmark and Germany. We are presently working with International Bank for Trade and Development. And Bulgarian Post Bank allocated us a credit of BGL2MN, which enabled the new management to put the plant's equipment back in operation. We are now holding negotiations with ROSSEXIMBANK for getting a turnover credit from it.
Source: Banker (20.08.2001)

The government released from his position the chairman of the State Agency of Energy Mr. Ivan Shiliashki and appointed on his position Mr. Milko Kovachev. Mr. Simon Spasov was released from the State Agency for youth and Sport - the new chairman is Mr. Vasil Ivanov. The Deputy-chairman of the Agency for Use of Atomic Power for Peaceful Purposes Mr. Tinko Ganchev is temporary appointed at the position of a chairman as today was released the present chairman of the Agency Mr. Robert Popits.
Source: National radio (24.08.2001)

Over 4.2 billion KW/h electricity have so far been exported from the State and is expected within the end of the year to reach up to 7 billion. This was stated by the former Chairman of State Energetics Agency Mr. Ivan Shiliashki. According to data of NEC over 2000 Bulgaria exported about 4-4.5 billion KW/h from which 3.2 billion to Turkey. The new Chairman of the Agency Mr. Milko Kovachev is not sure whether the prices of electricity and thermal heating will increase.
Source: Dnevnik (27.08.2001)

Vodosnabdiavane i kanalizacia - Dobritch has decided to publish in Internet the names of the people that owe money to the association. As of the end of July, the companies owe BGN 250 000 to the association. The biggest debtor is Rusalka resort, which owes BGN 60 000. The debts of the citizens amount to BGN 45 000. There are 82 people that are sentenced for unpaid bills.
Source: Black sea (28.08.2001)

Sofia City Court registered changes for NEC. From the company are detached as sole proprietor joint stock companies with state participation as it follows: HPS Bobov dol SPJSC, HPS Varna SPJSC, HPS Maritza Iztok 2 SPJSC, HPS Maritza Iztok 3 SPJSC
Source: State Gazette (28.08.2001)

AI Informatics, known with the installments of systems for management of the business based on the software on SAP, became a supplier of decisions and reseller of IBM. Among the newer joint projects are systems in the Ministry of Finance and in the National Electric Company for which the development and installment are assigned to the consortium AI Informatics and IBM with a main contractor AI Informatics. These decisions were developed on the base of the standard R/3 software of SAP AG and the additional R/3 software for Bulgaria of AI Informatics and the hardware is provided and installed by IBM.
Source: ComputerWorld e-Daily (31.08.2001)

BGN 3 200 000 are the debts accumulated by private and public subscribers to Water-supplying company (V i K) Pernik, announced its manger Mr. Plamen Grigorov. The company has already gotten executive sheets for Stomana JSC - Pernik nd Pektin JSC. Pernik Mines also have not paid their bills for the past two months. Within the end of August Vi K Pernik already owes BGN 200 000 to NEC SPJS.
Source: Struma - Blagoevgrad (04.09.2001)

Three people from the Boards of NEC and Bulgargas are replaced with an order of the Chairman of the Energy Agency Mr. Milko Kovachev. In the Board of Directors of NEC are appointed Mr. Angel Minev, the Deputy minister of Economy Mrs. Sofia Kasidova and Mr. Vladimir Hristov. From the Board are dismissed the Chairman Mr.Milcho Golemehov, his deputy Mrs. Paraskeva Kiseva and the deputy Executive director Mrs. Lilia Ivanova. Mr. Slavho Neikov from the State Commission for Energy regulation enters the Board of Bulgargas. The Deputy of Mr. Milen Velchev in the Ministry of Finance Mr. Krasimir Katev and the Deputy Chairman of the Energy commission Mr. Gati al Djebury are the newly appointed in the Board of the State Commission.
Source: Standart (13.09.2001)

The Municipality of Sofia gives to foreign investors the management of Toplofikacia Sofia for a term of 15 years. Rolls Royce Power Venture will finance the construction of a new power-station, which will supply heath for Liulin complex and NEC. This will happen if at the session in Friday the Municipal Board of Sofia Municipality gives approval for the establishment of a joint-venture between the English Consortium and Toplofikacia Sofia SPJSC. For this purpose Rolls Royce, through its subsidiary company Rolls Royce Power Venture is ready to invest between USD 35 and USD 55 million in Toplofikacia Sofia. The consortium will develop and install gas modules for combined manufacture of heat and electric power. Horizon Enerdgy Development, which is a subsidiary company of the American National Fuel Gaz Supply Corporation will accomplish the rehabilitation and construction of new equipment for the heat-stations Sofia and Sofia-Iztok as well as in the fifth water-heating stations in the Sofia region. The Austrian company VA TECH Hydro (which is a part of the group of Fioste Alpine) and the company of Canada Northland Power want to work together with Toplofikacia for the renovation of the sixth power stations in Zemlyane region. In the newly established companies for exploitation of the stations Toplofikatzia has to hold at least 26 per cent of the shares. Up to this moment interest for complete management of Toplofikatzia Sofia SPJSC are interested the German companies RWE, EnBW, International Water, the French company Dalkia
Source: Dnevnik (26.09.2001)

The 7th electroallocating companies owe about BGN 140 million to NEC within the end of August, 2001, according to the financial report of the company. The accounting profit of NEC for the 8th months of the year is BGN 210 million that is with BGN 75 million more than the expected incomes. Only from export of electricity were realized BGN 110 million for the period. The losses from sale of electricity amount to BGN 7.4 million for the period, according to the report of the company. The investment programme for 2001 amounts to BGN 166 million. BGN 46 million have so far been spent.
Source: Standart (28.09.2001)

The position of the Government for the construction of Gorna Arda cascade and the Maritza highway in the sector Orizovo-Capitan Andreevo will be ready until 30 October. On 3 October will be conducted the second meeting of the inter-department commission, which was formed earlier this month. It has to prepare the report which will be presented later to the Minister of construction Mr. Kostadin Paskalev. It has to be approved by the Government. Representatives of different ministries, NEC and the Agency for Energetic has to approve the Turkish company Jeilan for the construction of the cascade and the highway.
Source: Standart (28.09.2001)

All of the 1700 state companies, excluding APS Kozloduy, will be privatized after the acceptation of the new privatization Law. It is expected that it will be applied in the Parliament not later than 20 October. The new Law applies only for auctions and competitions as methods for privatization. There will be no negotiations with potential purchasers. Exceptions are allowed only for big monopolies - Bulgartabak Holding, BTC, NEC, which has a complex structure and besides the price for their privatization is important the social effect. The bigger companies will be sold by PA. Under the jurisdiction of the Ministries will remain the smaller companies and those for which privatization procedures are already in process. There will be no more preferences for the Working-managing companies. The privatization will be separated from the post-privatization control. A part of incomes from the privatization - between 10 and 20 per cent, will go to a special fund for development of the high technologies.
Source: Standart (01.10.2001)

NEC has formed a profit which will allow it to pay its debts to all state institutions. The Added Value Tax of NEC for 2000 is about BGN 69 million and for the municipalities about BGN 30 million. The dividend of the State is about BGN 16 million. The full amount of the profit of NEC is from export of electricity. There is a difference in the price and it is BGN 0.69 per kilowatt hour. This the difference between the price at which NEC purchases the electricity from the private producers at which it sells it.
Source: BTA (04.10.2001)

The Government is not still ready with its position for eventual breaking of the contract with Celain holding for the construction of the cascade Gorna Arda, announced the Deputy Prime Minister Mr. Nikolai Vassilev. According to the Chief Executive Director of NEC Mr. Danail Tafrov the contract with Celain holding for the construction of the cascade has to be broken since the Turkish holding does not execute its obligations that were assigned in the agreement, signed in 1999.
Source: Monitor (05.10.2001)

The new Management of NPS Kozlodui SP JSC required from the Ministry of Finance a full economic inspection of the station, announced the Executive Director Mr. Jordan Kostadinov. The Management wants to define the company's state. After the separation from NEC last year, the company finished 2000 with a profit of BGN 100 426 000. The station reported a profit of BGN 63 434 000 for the first half of the year. In execution of the restructure programme Atomenergoremont and Atomenergostroyprogress separated as independent legal entities. The economic effect of this is decrease of the shareholders' equity with BGN 390 000 and the personnel reduced with 972 people. It is expected the capital of NPS Kozlodui to be reduced with another BGN 730 000 and the personnel with 247 people.
Source: BTA (08.10.2001)

The price of the gas will fall down with BGN 12 per ton during the next 2-3 weeks. The reason is the decrease in the price of the gas on the international markets. After the last change of the prices LUKoil Neftochim sells the gas for BGN 732 per ton with Added Value Tax. The price at which the energetic companies sell the fuel does not cover their expenditures. The price at which NEC sells the electricity is equal to the price at which it purchases it from the power stations. The expenditures for the transmission of the energy are added to the value. The average salary in the energetic sector is BGN 406 and for the past three years the salaries have not been changed.
Source: Standart (08.10.2001)

At the new prices of the electricity that become efficient as of October 1, the difference between the price at which NEC buys the electricity and at which will sell it will be BGN 0.06, declared the Executive Director of the company Mr. danail Tafrov. The Profit Tax of NEC for 2000 is about BGN 69 million and for the municipalities - about BGN 30 million.
Source: Capital (08.10.2001)

NEC SPJSC reports a gross profit in amount of BGN 306.7 million and net profit of BGN 207.125 million. This profit is formed from the activity of NEC during three account periods during which the company performed its activity with three different structures: during the period January-May is a vertically intengrated company with activities in the manufacture, transfer and distribution of electricity. Since May the actvities the actvities for the distribution are separated, NPS Kozloduy, HPS Maritza iztok 1 and HPS Russe 3. Since July were separated the rest of the hydro-power stations excluding HPS Maritza3 and NEC is transformed into a transfer company. During these account periods the shareof the profit from export grows from 10.2per cent 54.1 per cent.
Source: Company information (08.10.2001)

Two new hydro electric stations will increase the energy capacity of Montana region, was reported from the local company Napoitelni sistemi SP Ltd. The new system was switched on experimentally to the national energy system. Its capacity is from 60 KW to 100 KW and it depends on the water in the dam. These days in the national construction control will be presented all necessary documents for the launching. The first stage of the construction of HPS Ogosta on the Ogosta dam nearby Montana finished.
Source: Monitor (09.10.2001)

HPS Maritza-Iztok 3 has doubled as compared to the approved programme a-proved in the beginning of the year. The station has motivated its participation with a non-monetary contribution in the joint-venture with the American company Entergy, which has rehabilitated the station. The company is already established and NEC holds 49 per cent in it and Enetergy - 51 [per cent with an option after it renovate the station to receive 70 per cent.
Source: Dnevnik (11.10.2001)

The Sofia City Court registered the following company Ecological Exploitation of Fuels and Energetic Oils Ltd. - Sofia with capital in the amount of BGN 5000 and partners: Energyproject JSC - Sofia and National Electric Company JSC - Sofia.
Source: State Gazette (12.10.2001)

Three new auctions for the sale of the property of Agrobichim -Stara Zagora will be conducted in the beginning of November. At them will be sold wagons, fire equipment and palladium. The debts of the bankrupted factory are more than BGN 90 million. The interest by this moment is more than BGN 2.5 million. Among the biggest creditors of the factory are Bulgargas - with BGN 53 million and NEC - with BGN 18 million. The public claims are BGN 1.805 million. The syndics of Agriobiochim initiates court cases with Folbek Bulgaria and other owners of detached branches of the company.
Source: Standart (15.10.2001)

The consumers with social functions may negotiate directly with the producers of electricity since 1 January 2002. These are the Water-supply (V i K) companies, Bulgargaz and Maritza-Iztok mines, as on them depend the final prices of the water, gas and electricity. Only a part of the energy market will be liberalized since the beginning of next year. By this moment NEC is the only company in Bulgaria which will export electricity. When this sector is ready to bear the competition o the European then will be allowed other companies to the export of electricity. Since 1 January 2002 the prices for sale of electricity will be equalized to the production prices.
Source: Standart (17.10.2001)

With an order of the Chairman of State Energy Agency Mr. Milko Kovachev since 17 September 2001 from the Board of Directors of NEC SPJSC was released the Executive Director Mr. Danail Tafrov. His contract or management of the company is ceased. For a member of the Board of Directors of NEC SPJSC was elected Mr. Vasil Anastasov. From the position of Chairman of Board of Directors of Electrorazpredelenie-Gorna Oriahovitza was dismissed Mr. Anton Pavlov. A month ago was dismissed the Executive Director Mr. Nikola Bakalov.
Source: Pari (19.10.2001)

PA opened a procedure for the sale of six hydropower cascades and 21 hydropower stations, detached parts of NEC. The energetic equipment will be privatized through auctions with open bidding. The following cascades will be sold : Petrohan - uniting HPS Petrohan, HPS Burzia and HPS Klisura; Rositza which includes HPS Rositza 1, HPS Rositza 2 and HPS Rositza 3; Asenitza, which includes HPS Asenitza 1 and HPS Asenitza2, Ustovo cascade, Gorni Lom cascade. The detached HPS which will be sold are Falkovetz, Batoshevo 2, Chiprovtzi, Malusha, Cherni Vit, Ledenik, Beli Vit, Sini vir, Rakita, Topolnitza, Cherni Osam, Tuzha, Troyan 1 , Zhebchevo, Kamen rid, Yako ruda, Lovech, Razlog.
Source: BTA (22.10.2001)

The treasury will gather 80 per cent of the net profit of the state-owned companies for 2001 as a dividend. The dividend for the state-owned companies defines with a decree of the Government in the end of every year. The state-owned monopolists BTC, Bulgargas, NEC, Bulgartabac, Bulgarian posts and others will bear the most considerable losses in connection with this measure.
Source: ComputerWorld e-Daily (24.10.2001)

The Management of Shroder Salomon Smith Barny, a member CITY GROUP, discussed on a meeting with the Executive Director of PA Mr. Apostol Apostolov and the Deputy Executive Director Mr. Ilaya Vasilev, the privatization of Bulgartabak holding, NEC and other big monopolies. Representatives of the corporation are interested in the privatization of objects of the Bulgarian energetic.
Source: BTA (01.11.2001)

There will not be revised the deal with the American company Entergy for the rehabilitation of TPS Maritza-iztok 3. This was announced by the Chief Executive Director of NEC Mr. Vassil Atanasov. There are some technical differences but they will be solved during the realization of the project. The project probably will start within March, 2002.
Source: Standart (05.11.2001)

Three autocranes and eight equipments are delivered for the needs of NEC. They amount to USD 447 600 and are production of the South Korean company in the hidraulic technologies KANGLIM. The first group of machines is for Elektrorazpredelenie Stara Zagora.
Source: Pari (07.11.2001)

The Government decided that in the privatization of 36 hydro-power stations and the Agromachinaimpex (Sofia ) the purchasers will pay the negotiated price in cash in full amount. Fifteen of the thirty-sixth hydro-power stations are connected into 6 cascades. The cascades are Petrohan, Rositza, Asenitza, Koprinka, Ustovo and Gorni Lom. All objects are self-contained parts of NEC.
Source: BTA (09.11.2001)

NEC constructed the new 400-kilovolt transmission line for Turkey a month before the deadline. The length of the transmission line from HPS Maritza Iztok - 3 to Kapitan Andreevo is nearly 60 km. The Turkish part of the transmission line was constructed by the electric company of Turkey.
Source: Monitor (20.11.2001)

The water-supply company in Plovdiv insist the Municipality on paying off the owed BGN 2 million within December 5 or will be taken measures for blocking of the bank account. The amount of the municipally-owned debts by October is about BGN 20 million and soon the Government will take a decision for granting funds for Plovdiv municipality.
Source: BTA (29.11.2001)

The Council of Ministers approved an offer to the Parliament for negotiations and conclusion of a guarantee agreement with the European Bank for Reconstruction and Development for granting a loan of EUR 41.1 million. The funds are granted to the National Electric-distributing Company for finance of a project. The project is for EUR 153 million and the deadline of the loan is 13 years with a three-year gratis period.
Source: Dnevnik (30.11.2001)

Bulgarian State Railways received BGN 10 million financial aid for the payment of salaries for August and September. The money will be transferred to the company up to 3 December. Experts from the Ministry of Finance announce that they hope that the employees will postpone the strike, planned for Christmas. Bulgarian State Railways owes to its employees totally BGN 27 million. The Ministry of Transport and Communications suggest the debts of the State Railways to NEC and the State to be remitted. It is expect that the debts of the company will to reach BGN 120-130 million. within the end of the year.
Source: Standart (03.12.2001)

The Italian company Enel hydro is the most probable investor for the construction of Gorna Arda cascade, according to a countdown that was made by the National Electro-allocating Company(NEC). The countdown of NEC was revised by the working group on the project, appointed by the Prime Minister Simeon Saxe-Kobourg. Enel hydro together with the Turkish company Gama is the is the first in the list. Gama replaces the Turkish holding Celaine as an executor of the project for the cascade. Celain has financial difficulties.
Source: Dnevnik (06.12.2001)

The Supreme Administrative Court postponed as illegal the decrees of the Council of Ministers with which as of October 1, 2001 the prices of the electricity and thermal energy increased with 10 per cent. In the motives of the Court is pointed that were concerned questions of the life level and at its acceptation was not observed the requirement from Labour Code. There had to be held consulting with the representative organizations of the workers and of the employers to the National Council for tripartite cooperation.
Source: National radio (06.12.2001)

The Ministry of Finance transferred the first amount of BGN 6.52 million from the additional subsidy for Plovid Municipality. A part of the sum - BGN 2.893 the Ministry has destined directly for paying the debt to Bulgargas. The rest of the money will used for the paying the social aids and to purchase medicaments and fuel. Within the end of the year the Municipality is expecting to receive the second transfer from the subsidy. It will be used for the debts to NEC and Water-supply company ViK.
Source: Sega (11.12.2001)

The Croatian company Konchar wants to invest in the construction of a thermal station in Dobrich. It sent to the town-hall a letter of intend to take part in a joint-venture that will finish the station, announced the Regional leader of Bulgarian Social Party Mr. Yasen Penchev. In the letter was said that it was envisaged a mounting of the gas generator. The produced electricity will be sold to NEC. The company is specialized in the field of energetics and has experience in the construction of water, thermal and nuclear power stations.
Source: Pari (11.12.2001)

The State is interested in paying the debt of the Bulgarian State Railways (BDZ). Thus the company will be able to pay its current debts for Added Value Tax. The Minister of Transport and Communications explained that it will be better if the debts of the company owes to NEC and to the State. The biggest debt of the company is to the State.
Source: BTA (13.12.2001)

The Swedish company for steel products which was established during 1865 is celebrating its 35 years of presence at the Bulgarian market. According to the Manager of Sandvik Bulgaria Mr. Miroslav Markov, during the last few years the concern is very interested in the structural reforms of the Bulgarian industry and in accordance to them is changing its own organization. The Bulgarian branch of the company works in two main area . They are Sandvik Coromant - metal cutting instruments and Sandvik Steel - special steels. The annual turnover of Sandvik is for more than BGN 10 million.
Source: Pari (17.12.2001)

National Electricity Company (NEC) has concluded a contract for the export of electricity for Serbia. The amount of the electricity is 250 megawatts, reported from the press-centre of the company. The term of the contract is for the period from 18 November to the end of February. There is a threat of regime of the electricity-supply in Serbia. According to the information from the press-centre of NEC at the moment the company is exporting electricity for Turkey, Greece, Macedonia and Kosovo.
Source: BTA (19.12.2001)

Bulgaria may cancel the construction of a new power capacity in HPS Maritza -Iztok 1 if the research shows no need of it. A Department of the National Electricity-supply Company will research the market of electricity in the region during the next few years and the consumption in Bulgaria. The initials plans were the American company AES to rehabilitate and to construct new power in HPS Maritza Iztok 1. The total value of the project, according to which has to be constructed a power equipment for 600 megawatts is USD 850 million. USD 255 million of them will be provided by the American company.
Source: Dnevnik (20.12.2001)