New exchange records, electricity exports up by 3026.55% Another record was registered by the energy exchange on January 13 in the sale of electricity. On the Day Ahead platform, deals were concluded for nearly 70,000 megawatt hours, or a load with an average capacity of 2914 megawatts, which is more than that of Kozloduy NPP. One of the next records, the one on January 6, 2020, was trade of 39,515 megawatt hours. This shows that for a year the growth is 77%. In the cold days of January, stock exchange trading achieves affordable electricity prices on the free market, and on some days it is even among the lowest in Europe. With a delivery day January 14 on the Day Forward platform, the base price is EUR 67.3 per megawatt hour, cheaper only in Greece (EUR 46.16 ) and in Croatia, where prices were minus EUR 32.05. Across Europe, free market electricity ranges from EUR 71 to EUR 81, with peaks in Spain and Portugal at EUR 87.25. Since the beginning of the year Bulgaria has kept some of the lowest prices in the sale of electricity on the free market.
Source: 24 chasa (18.01.2021)

Kozloduy NPP provided 57% of the electricity traded at IBEX in 2020 Kozloduy NPP has provided 56.6% of the electricity traded on the Bulgarian Independent Energy Exchange (IBEX) in the Day Forward segment in 2020. This became clear during a ceremony on the occasion of the fifth anniversary of the existence of the energy exchange in the country. The nuclear power plant was awarded by the IBEX at the short ceremony with a diploma in "Manufacturer" category. The management of the exchange also awarded Energo Pro (in the "Trader" category), Stomana Industry ("Consumer" category). AES Geo Energy was awarded as "Innovator" on the energy exchange. IBEX started its work on January 19, 2016 with 16 participants and one segment - Day Ahead. Five years later there are 83 participants in this sector, liquidity is increasing, and the exchange is working for the unification with the stock exchanges in neighboring countries. Another segment - Within the Day, which gave the opportunity to green producers to take advantage of stock exchange trading, also started operating. The executive director of the stock exchange Konstantin Konstantinov clarified that the merger with Day Ahead markets in Greece and Romania is expected by the end of 2021. At the end of 2019, the merger of the Within the Day segments of IBEX and the Romanian Energy Exchange was finalized.
Source: 24 chasa (20.01.2021)

Westinghouse Electric Sweden to explore alternative fuel for Kozloduy NPP Westinghouse Electric Sweden will explore the possibility of using an alternative type of nuclear fuel in Unit 5 of the Kozloduy NPP. Prime Minister Boyko Borissov described the signed agreement between the two companies as another step towards energy diversification and added: "The construction of the 7th and 8th reactors in Kozloduy is extremely important for Bulgaria, as we are very attached to nuclear energy, it is included in the Green Deal." The contract was signed by the executive director of Kozloduy NPP Nasko Mihov and the vice president and managing director of Westinghouse Electric Sweden Azis Doug. The event was attended by the Minister of Energy Temenuzhka Petkova, the US Ambassador Hero Mustafa and the Ambassador of the Kingdom of Sweden Katarina Rangnit.
Source: National radio (05.02.2021)

BEH will have a new management, none of the current managers applied in the competition None of the current BEH managers applied in the competition for members of the board of directors announced by the Ministry of Energy. The resigned head of the holding, Jacqueline Cohen, has already stated that he will not stay, and Zhivko Dinchev and Andon Andonov have submitted documents for the boards of TPP Maritsa East 2 and Mini Maritsa East respectively. Seven people will fight for 3 seats on the board. Among them well-known in the energy circles are the former MP Valentin Nikolov, Ivan Andreev, who is a former head of NPP Kozloduy, the financial director of Mini Maritsa-East, Stelian Koev, Dimcho Margitov, who works in BEH, and Lyubomira Gancheva. Kozloduy NPP will also have a change of managers, with the possible exception of the plant's director Nasko Mihov, who is participating in the competition. Ivan Yonchev and Jacqueline Cohen did not submit documents. Yonchev is currently the head of NEK and is applying for it.
Source: 24 chasa (24.02.2021)

Development plan for the site of Unit 7 at Kozloduy NPP prepared The project company Kozloduy NPP - New Builds SPJSC assigned to Geoconsult LTD the elaboration of a Detailed Development Plan - Plan for regulation and construction of a site approved by an order of the Nuclear Regulatory Agency for deployment of a nuclear facility - nuclear power plant. These activities will meet the regulatory requirements for regulation of the territory falling within the scope of the site. This was announced by the project company for the new seventh block. The project will determine the general rules and norms for development and construction of the territory where the new nuclear power plant will be located. The plan will determine the boundaries, the specific purpose and manner of arrangement of the regulated land property (RLP). An analysis of production links outside the site of the new nuclear power plant will be performed and will be linked to its interaction with other production units located at the Kozloduy NPP site. The company notes that the sites and sites of State-owned Radioactive Waste, Electricity system operator SPJSC and others will be taken into account. The project will be accompanied by the necessary plot plans for the lines, linear facilities and the road for heavy loads, the displacement of which is justified by the project decision. The preparation of a development plan represents the implementation of another step of the licensing plan and a stage of the sustainable development of the New Nuclear Power Plant project at the NPP. The prepared plan is expected by the end of the year.
Source: Banker (09.04.2021)

The trustees of CCB have reimbursed 25% of the money Over BGN 1.25 billion are the funds distributed to creditors by the trustees of the bankrupt Corporate Commercial Bank as of the end of March 2021, according to the Bank Deposit Guarantee Fund (BDGF). The amount allocated for recovery is significantly higher than the forecasts for no more than BGN 800 million of the specialized international investigation company AlixPartners Services UK LLP. The data show that for more than 6 years the trustees have managed to collect about 25% of the assets of the looted bank. There is no data on how many of the BGN 1.25 billion in question are the result of the collection of loans provided by the Corporate Commercial Bank, the liquidation of the bank's assets or the declaration of invalidity of set-offs after its bankruptcy. Most of the money allocated for the return - BGN 928 million, actually goes to the BDGF, which is the largest creditor of CCB, after paying off protected deposits in 2015 for BGN 3.7 billion. So far, the bank has returned money to unprotected depositors (those with savings over BGN 196,000) and other creditors with four partial accounts. The list of major unprotected investors includes Sofia District Heating, Bulgargaz and Bulgartransgaz, BDB, BEH, NEK, Kozloduy NPP, Maritza Iztok Mini, NRIC, as well as government agencies such as the Privatization Agency and the Diplomatic Properties Agency. All of them have so far received no more than 20% of their former savings in the bank.
Source: Sega (15.04.2021)

Valentin Nikolov is head of BEH Former MP and chairman of the Energy Committee in Parliament Valentin Nikolov is the new head of the Bulgarian Energy Holding. The chairman of the board of directors of BEH is Diyan Dimitrov, who comes from the board of directors of TPP Maritsa Iztok 2. This is clear from the documents submitted to the Commercial Register after a decision of the Minister of Energy. The other three members of BEH's board are Ivan Andreev, former head of Kozloduy NPP, Stelian Koev, former CFO of Maritza Iztok Mines, and Alexander Tsarnorechki, who was a spokesman for BEH years ago. All of them successfully went through the three stages of the procedure for selecting new members of the board of directors of the state holding.
Source: 3e-news (21.04.2021)

The energy companies owe a total of BGN 2.5 billion The companies in the energy sector, united under the Bulgarian Energy Holding, have debts of BGN 2.5 billion, said caretaker Minister of Energy Andrey Zhivkov. He specified that the servicing of these obligations alone costs the state EUR 100 million a year. Andrey Zhivkov criticizes the style of work of BEH. "BEH has access to attractive financing, but instead of investing in strategic projects and becoming a regional player, it uses them to solve current problems. In other words, with long-term liabilities BEH solves short-term problems. This is a path to a debt spiral," the minister pointed out. To refinance its liabilities in July, BEH will issue a bond issue of EUR 550 million, but no base investor has been found for it to give the company an image, said Minister Zhivkov. His deputy, Alexander Nikolov, added that the problem was that BEH continued to accumulate deficits. Among BEH's biggest debtors is the National Electricity Company with a debt of over BGN 2 billion, which the company does not service, but only renegotiates. TPP Maritsa East 2 is another large debtor with BGN 580 million. Bulgartransgaz's liabilities are also growing year by year, amounting to BGN 920 million, the main reason being the investment of BGN 2.6 billion in the project for the construction of the route of the Balkan Stream gas pipeline. The minister expressed doubts about the profitability of the project, but promised to give more details by getting acquainted in detail with the financial estimates. Bulgargaz also has liquidity difficulties due to Toplofikacia-Sofia, which is failing to pay its debts, Minister Zhivkov added. As a problem, the Minister pointed out that BEH seizes extraordinary dividends from the profitable companies and thus "the problem is transferred from the sick head to the healthy one". He pointed out that in 2019 and 2020 an additional BGN 200 million and 270 million were taken from the NPP Kozloduy, and from the Electricity System Operator twice BGN 50 million each.
Source: Dnevnik (28.05.2021)

An unknown buyer buys an electricity trader associated with Kovachki Founded just a month ago, a company of an unknown person in the industry has applied to the Commission for Protection of Competition (CPC) to be allowed to buy the electricity trader Grand Energy Distribution, which is officially owned by energy boss Hristo Kovachki. The CPC has even initiated proceedings on the application of Stoimenov Trading and a ruling is pending. According to the data in the Commercial Register, the company is engaged in domestic and foreign trade, import and export, trade representation, mediation, transport, hotel, tourism, advertising, information, construction, installation and repair of energy equipment, trade in goods and other goods not prohibited by law activities. Its authorized capital is BGN 1,000, which have been deposited in First Investment Bank.
Source: mediapool.bg (29.06.2021)

State-owned companies turned out to have contracts for over BGN 8 billion without a public procurement The contracts concluded after a public procurement are for BGN 11.505 billion without VAT, and the contracts concluded without a public procurement, through the so-called "In house" assignments are for BGN 8.087 billion without VAT, Ministry of finanse said. Among the companies that have concluded the most contracts without a tender are "Motorways", "Montazhi", Kozloduy NPP, the State Consolidation Company, "Mini Maritsa - East" EAD, as well as many hospitals. The total amounts do not include contracts with estimated prices, as well as framework contracts, the prices of which are determined by a handover protocol. În July 8 the Minister of Finance announced that for the last two years nearly BGN 8.5 billion have been awarded without public procurement (with the so-called in-house procedures).
Source: investor.bg (02.08.2021)

Expensive electricity is threatening with bankruptcy the water operators Expensive electricity is also threatening water supply and sewerage companies. The management of the Bulgarian Water and Sewerage Holding warned the deputies about this. The critically high electricity costs of the water and sewerage operators for July and August drastically deplete their financial reserves, said Asya Stoyanova, chairwoman of the Water and Sewerage Holding's Management Board before the temporary parliamentary commission on the revision of GERB's government in the parliament, headed by Maya Manolova. The electricity bills of the water supply and sewerage operators have increased between two and three times in July. Record high invoices are expected for August as well, warned the management of the Holding. Water and sewerage operators buy electricity on the free market, and the price of water for end customers is regulated. In recent months, the price of electricity has risen sharply, forcing businesses to shut down. State railways also complained about high prices. At the meeting of the Audit Commission of Boyko Borissov's management were heard the managements of the Independent Bulgarian Energy Exchange (IBEX), the employers' organizations and trade unions, BEH, ESO, NEK, Kozloduy NPP, TPP Maritsa-East 2 and others.
Source: mediapool.bg (25.08.2021)

Kozloduy NPP will operate with only one unit for a month The planned annual repair of Unit 6 will start at Kozloduy NPP on September 29, which is scheduled to continue until the beginning of November. During this period, the nuclear power plant will operate with only one reactor. The shutdown of one of the units of Kozloduy NPP was expected with concern by the business in the country, because it could be another factor that raises the price of electricity on the free energy market. The promises of the caretaker Prime Minister and the Minister of Energy are that in October the last two units of the state TPP Maritsa East 2 will go out of the planned repairs and will operate so that there is no shortage of cheap electricity. "Since August, we have done everything possible to get state-owned power plants into the mix, mainly the TPP Maritza East 2, and it has saved the situation, i.e. we have managed to keep prices at the lower level of Europe," he said. He added that he proposes to revise the regulation on electricity carriers and bring it into line with modern European practices. Zhivkov reminded that from July 1 the market is liberalized for all non-domestic consumers - companies, municipal buildings, hospitals, schools, etc., which coincided with the sharp jump in prices on the free market. "The price of electricity is rising all over Europe. The economy is recovering from Covid, there is a great demand for energy, at the same time because of the green deal they are removing coal power plants from the electricity mix and these are a set of factors that increase prices," said Zhivkov.
Source: Sega (30.09.2021)

EWRC temporarily reduces the price of electricity for small businesses From November 1, more than 250,000 companies will receive a discount on the price of electricity, which is already chasing BGN 400 per megawatt-hour on the energy exchange. The Energy and Water Regulatory Commission (EWRC) on Tuesday adopted changes in the methodology for determining the prices of the so-called last resort suppliers, which will reduce shifts by BGN 15 to 30 per megawatt-hour. The measure is temporary and will be valid until the end of January 2022. The changes in the methodology are aimed at small and medium enterprises, which from July 1 this year are on the free electricity market, but have not concluded a contract with a trader and are supplied with electricity at the prices of a supplier of last resort - the most expensive way of delivery. Such suppliers are CEZ, EVN, Energo-pro and the state-owned NEK. Currently, about 256,000 non-domestic consumers are in this situation, which is 40% of all consumers on the free market. By the end of January, these consumers will have to sign contracts with suppliers of their choice in order not to pay a higher price. However, companies, and especially energy-intensive companies, expect more serious aid from the state to compensate to some extent for the cost of drastically rising electricity prices.
Source: Sega (28.10.2021)

The construction of the Belene NPP will cost BGN 10 billion Despite the changes in prices, the construction of the Belene NPP will cost about BGN 10 billion, because the main equipment for the plant has been purchased. This was said in an interview with BTA by the chairman of "Bulatom" Bogomil Manchev. He said if the equipment had been bought now, the nuclear power plant would have cost twice as much. He noted that copper is still more expensive at the moment. In every power plant that produces electricity, about 25% are cables and rotating mechanisms, and there is a lot of copper. Therefore, it is possible to increase the price a little more than these BGN 10 billion, but not much. Regarding the cost of the construction of Units 7 and 8 of Kozloduy NPP, nothing in particular can be said, because the process has not yet begun. The site of Unit 7 is completely new to the European community. Everything has to start all over again. The Belene NPP project cannot be adapted for Unit 7.
Source: 24 chasa (01.11.2021)

There was a US candidate for Unit VII of Kozloduy, investors are waiting for us to decide on Belene NPP The future Unit VII of Kozloduy NPP has attracted an investor who is ready to invest in it, sources from the nuclear sector said. It is a US company, which is not Westinghouse, whose interest is in the construction of the unit and the supply of fuel for Bulgarian reactors. The idea for the hybrid model for Unit VII was launched in December 2020, when US Ambassador Hero Mustafa visited Kozloduy NPP. The model in question is a Russian nuclear island from the equipment that is on the Belene site, and the rest - from other Western suppliers. Then the Ministry of Energy stated that the procedure for Belene has not been stopped and that this is within the powers of the parliament. The very procedure for selecting a strategic investor for the Belene NPP was and still is nearing completion. It was stopped, at least for the public, due to the pandemic. Candidates from the "short list" are the Chinese National Nuclear Corporation (CNNC), Atomenergoprom, part of Rosatom, the Korean Hydro-Nuclear Corporation, Framatom from France and General Electric from the United States. Before the pandemic, the penultimate step of the procedure remained - providing access to the information hall at the National Electric Company. The indicative deadline for submitting the binding offer was 31 May 2020.
Source: 24 chasa (02.11.2021)

The business without the help of BGN 110 for the expensive electricity Businesses still cannot benefit from the aid of BGN 110 per megawatt-hour of electricity for October and November 2021, which was introduced due to high electricity prices, as the mechanism has not been approved by the European Commission. This was alerted by the Free Energy Market Association. "The mechanism will be implemented through electricity traders, who should pay the aid to end customers after the transfer of funds from the Ministry of Energy. Despite the information from the government that the Minister of Energy Andrey Zhivkov started signing standard contracts with traders in connection with the implementation of the business compensation program, the assistance will be implemented only after approval of the mechanism by The European Commission, which is still missing", the Association stated. More than 630 thousand non-domestic consumers should benefit from the aid, and according to the forecast of the Ministry of Energy, the actual payment of the envisaged compensations of BGN 110 / MWh will start in December 2021 at the earliest.
Source: Trud (10.11.2021)

22 Bulgarian companies are among the largest 500 in Eastern Europe 22 Bulgarian companies rank into this year's TOP 500 of the largest companies in Central and Eastern Europe, which for the 13th year is prepared by the international credit insurance and risk management agency Coface. For comparison, in the previous year Bulgaria was represented in the TOP 500 in CEE with 18 companies. Now the total turnover of the 22 largest Bulgarian companies is EUR 20.748 billion (according to financial statements for 2020) and so the country ranks 7th. Bulgarian companies that rank in the TOP 500 are mainly from the chemical, oil and pharmaceutical industries, along with financial, information and telecommunications services. For another year, the largest Bulgarian company is Bulgarian Energy Holding, which ranks 34th with a turnover in 2020 of EUR 2.861 billion and a profit of EUR 80 million. The second largest Bulgarian company is the metallurgical Aurubis Bulgaria - in 38th place, with 12% sales growth to EUR 2.7 billion and a profit of 135 million euros. LUKoil Neftochim dropped to 111th place (38th last year).
Source: Sega (12.11.2021)

Kozloduy NPP reports a record BGN 717.5 million profit for the first nine months While some are losing out because of rising electricity prices, others, such as electricity producers, are gaining. This is most clearly seen at Kozloduy NPP, whose production costs are relatively low and constant (due to the long-paid investment in the plant), and the energy it sells on the stock exchange has risen sharply in recent months. Thus, although record electricity prices were registered in November, and October is 50% more expensive than in September, the NPP's interim financial report at the end of the nine months is still impressive. With equal production of electricity, revenues increased by over 70% on an annual basis - up to BGN 1.57 billion. However, the profit was almost three times higher - from BGN 245 million it increased to BGN 717.5 million. But much of that money doesn't stay at headquarters. The NPP's surplus profit, which significantly exceeds the forecast estimates, is literally taken away from the state in order to compensate the business for the expensive electricity with BGN 110 / mWh in October and November. It is clear from the report that a dividend of BGN 138 million was paid to BEH, which was deducted from the profit for 2020, and at the same time an additional dividend of BGN 470 million was paid - in February BGN 220 million. at the expense of the Other Reserves Fund and in August BGN 250 million at the expense of retained earnings from previous years and the Other Reserves Fund.
Source: Capital (01.12.2021)