There is interest in Beroe's shares, to be considered "There is an interest in the shares of the professional football club Beroe. We need a few days to check which of the declared interests is serious and which - not, to decide how to proceed." This was officially answered to a question of the newspaper "24 Chasa" by the management of the state TPP Maritsa East 2 through its press center. The headquarters holds the 50 thousand shares of the club announced for sale, the price of which is about BGN 5 million. The deadline for bids of potential new investors expired on January 9. The shares were announced for sale immediately after the BEH board decided that from December 23 last year the TPP stops financing Beroe. It has been doing this since September 2011, with the annual budget of the Stara Zagora club being nearly BGN 6 million, of which BGN 5 million was provided by the state heating plant. Earlier, the president of the club Ilko Rusev, an employee of TPP Maritsa East 2, did not rule out the possibility that if necessary the shares will be given to a new potential investor for BGN 1. He added that Beroe's debts currently amount to BGN 1.1 million.
Source: 24 chasa (11.01.2022)

If the connection with Greece does not start by July 1, we will face sanctions Bulgargaz expects the gas connection between Bulgaria and Greece to be put into operation without further delay on July 1 at the latest, so that the country can receive the quantities of gas agreed with Azerbaijan in full. This is stated in the company's position. They clarify that if this does not happen, there will be a risk that the Azerbaijani company will activate the penal clause under the Agreement and use the bank guarantee provided by Bulgargaz and BEH in a significant amount. We present the whole position: "Regarding the agreements on receiving Azerbaijani gas on a temporary alternative gas pipeline in Greece, which are discussed in public, Bulgargaz considers it necessary to inform the public as follows: After the start date of deliveries from Azerbaijan ( 31.12.2020) the agreed supply route, the gas connection Greece - Bulgaria (IGB gas pipeline), was not built, Bulgargaz was put in a position not only unable to receive gas under the Agreement, but also to pay sanctions under penal clause. Bulgargaz had no choice but to negotiate with the Azerbaijani side and seek the best possible interim solution.
Source: Banker (17.01.2022)

BEH moved the headquarters of Mini Maritsa Iztok from Radnevo to Sofia BEH moved the headquarters of Mini Maritsa Iztok SPJSC from Radnevo to Sofia. The decision was taken by the 6 out of 7 members of BEH. It also provides for a new statute of the company. The Board of Directors of BEH instructs the Executive Director of Mini Maritsa Iztok, Todor Todorov, to take the necessary actions to register the changes and a new statute of the company. The two unions in the company - CITUB and Podkrepa, in which over 90% of employees are members, have prepared a protest declaration, which will be sent to BEH, the Ministry of Energy and all other responsible institutions, the chairman of CITUB in the coal company said. "The relocation of the company's headquarters in Sofia is madness. We understand from this decision that the management will be moved to Sofia. If this is not the case, it would be appropriate for someone to explain to us what this is all about."
Source: Other (24.01.2022)

The entire board of Bulgargaz was fired on Friday On Friday, the board of directors of the Bulgarian Energy Holding released the entire board of directors of Bulgargaz. Despite the late hour and the end of the working day, the documents were submitted for registration in the Commercial Register. The executive director of the gas company Nikolay Angelov Pavlov and the other members of the board were released. For more than a month, there has been a struggle in the gas industry, which the Minister of Energy Alexander Nikolov has joined, according to whom not everything possible was done to take all quantities of Azeri gas on an alternative route to the unbuilt gas connection with Greece.
Source: 24 chasa (31.01.2022)

The shares of Beroe were transferred for BGN 1 The current owner of PFC Beroe, the state-owned Maritza East 2 TPP, transferred the club's shares to the non-profit association Football Support Association - Beroe for BGN 1 on Friday, the association confirmed. This became possible after a decision of the BEH leadership, which meets on Wednesday in Radnevo. Officially, the shares are worth BGN 5,480,000. The club passes into the hands of the association with cleared debts to the National Revenue Agency and the municipality of Stara Zagora, but with unpaid salaries for January of football players, coaches and employees. On Monday, the nine members of the Beroe Football Support Association will meet to elect a board of directors of the football club and its chairman.
Source: 24 chasa (28.02.2022)

Sofia's central heating short by BGN 413 million due to gas prices Due to the unprecedentedly higher real prices compared to the forecast in the price decision of the EWRC, by the end of March 2022 Toplofikacia Sofia will have short-term uncollected revenue of BGN 413 million. This was announced at a meeting between the company's management and unions , announced by the Sofia-based company. As a result of the moratorium on heat prices and the premium that the company receives from the Security System of the Electricity System, a huge liquidity shortage is formed, increasing liabilities to Bulgarian Energy Holding (BEH) and Bulgargaz.
Source: 24 chasa (17.03.2022)

The government has agreed to break up BEH The government will respond to the long-standing demands of the European Commission and will take out two of the state-owned enterprises from the Bulgarian Energy Holding. This reform is set by the latest changes to the Recovery and Sustainability Plan approved by the Commission. The changes were not announced in advance, but they were probably part of Brussels' conditions to support the document. These are the two operators of the natural gas and electricity transmission systems - Bulgartransgaz and the Electricity System Operator (ESO). According to the explanations in the Plan, the goal is to improve the transparency and competitiveness of state-owned companies in the energy sector. They will be established as separate public enterprises with 100% state ownership of capital and the Ministry of Energy. In addition, an "independent audit report" will be presented to the European Commission to present a detailed assessment of market compliance on cross-subsidization (so-called cross-subsidization) between state-owned or state-controlled energy companies in terms of electricity generation by coal.
Source: economic.bg (08.04.2022)

NEK returns earlier the loan of EUR 600 million for the Belene NPP case The National Electric Company (NEK) will repay the loan granted to it by the state by April 15, 2022 to pay the amounts awarded in the arbitration case with Atomstroyexport for the equipment produced for the unbuilt Belene NPP. This was decided by the Council of Ministers at today's meeting, postponing the deadline from its previous decision by 15 days. Thus, instead of until December 2023, as was the original term, the money amounting to nearly BGN 1.177 billion (equivalent to EUR 601.6 million) will be repaid to the state by mid-April 2022. Early repayment of the loan becomes possible, after the National Electricity Company accumulated significant financial resources due to rising energy prices. Atomstroyexport filed a lawsuit against NEK in 2016 in the Geneva Arbitration Court for the ordered equipment for the suspended Belene NPP project. As a result of the court decision, NEK paid the equipment supplier EUR 601.6 million. In January 2021 the intention was announced that the reactors intended for the Belene NPP project would be transferred for the construction of the seventh unit of the Kozloduy NPP on the second site. In October 2020, the Bulgarian Energy Holding (BEH) decided to enter into negotiations with the United States for the development of new nuclear projects and specifically to study the possibilities for construction of nuclear site No. 2 at Kozloduy NPP. Bulgaria's energy strategy until 2030 also envisages the construction of 2,000 megawatts of new nuclear power. At the same time, in June 2018, the National Assembly officially unfroze the 30-year-old project for the second nuclear power plant in Bulgaria - Belene.
Source: money.bg (14.04.2022)

Gas connection with Greece completed 92% The gas connection with Greece is 92% complete and will be operational for the new heating season, Teodora Georgieva, executive director of ICGB on the Bulgarian side, said. The construction of the gas metering stations in Stara Zagora and Komotini remains to be completed, hydro tests and certification, after which 3 billion cubic meters of blue fuel will pass through the pipeline - enough to meet the country's needs. "To date, the project is 92% built. The entire linear part is completed. The pipes are welded, laid. Hydro tests have been successfully completed and the route is backfilled. Reclamation is already underway. Builders are restoring the topsoil so that the land can be cultivated again. In short, the hydro-tests were performed on the linear part and on the crane units, which were late and came to us in February, but are already hydro-tested. What we have left to hydrotest are the two heating stations - Stara Zagora and Komotini, which we expect to be completed by the end of June," Georgieva said.
Source: mediapool.bg (28.04.2022)

Bulgaria, Westinghouse agree to implement energy storage project State-owned Bulgarian Energy Holding (BEH) has signed a memorandum of understanding with Stone&Webster, a unit of US nuclear power technology provider Westinghouse Electric, to implement a long-duration energy storage (LDES) project. The companies will collaborate on the installation of two grid-scale pumped thermal energy storage (PTES) units which can provide 2 GWh of sustainable energy storage. The new energy storage facility will improve power grid resilience, while supporting renewable electricity generation, in addition to potentially offsetting up to 700,000 metric tonnes of carbon dioxide (CO2) emissions per year. Westinghouse, which has developed the PTES technology, said in a statement it has partnered with US power plant equipment supplier Echogen Power Systems to meet the demand for LDES. The project is seen as a means to enhance Bulgaria's energy security and ensure economic support for clean energy generation, whilst aiding Bulgaria to play a role in emission reduction under European Green Deal targets. The PTES solution can deliver at least 10 hours of reliable energy storage to manage fluctuations in power supply and demand.
Source: SeeNews (10.05.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) The report can be found on the financial web-site X3News
Source: BSE (01.06.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) In view of a forthcoming interest payment on an issue of bonds, please, be informed of the following: - Issuer: Bulgarian Energy Holding EAD-Sofia - BSE code: 04HA - ISIN: XS1839682116 - Date of interest payment: 28.06.2022 - Coupon rate: 3.5 % - All bondholders registered with the Central Depository as of 27.06.2022 (Record Date) will be entitled to receive the payment. - The final date for transacting in bonds of this issue on BSE-Sofia, as a result of which the buyer will have the right to the interest payment, will be 23.06.2022 (Ex Date: 24.06.2022).
Source: BSE (23.06.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) The report can be found on the financial web-site X3News
Source: BSE (15.07.2022)

State energy contributes BGN 456 million for subsidies for electricity and gas Companies from the "Bulgarian Energy Holding" group will contribute a little over BGN 456 million from their accumulated excess profits from high electricity prices to compensate for expensive electricity and gas for business consumers, heating systems and gasified households. The contribution will be made to the Power System Security Fund under recent legislative amendments allowing 100% state-owned energy companies to make earmarked contributions to help those affected by high electricity and gas prices. The amount of contributions is determined by the Council of Ministers on the proposal of the Minister of Energy, taking into account the full cost of the electricity produced, the necessary funds for the implementation of investments and repairs without VAT, guaranteeing the long-term operation of the production facilities and ensuring an economically justified rate of return on capital , the press service of the government indicates. It also decided at its meeting that 9.2 million BGN of this additional contribution to the FSES should be used to pay additional compensations for heating systems and gasified households. The reason is the difference between their estimated and actual consumption of blue fuel in the month of May. Therefore, the budget of the gas aid program for the period from February 1 to the end of May 2022 has been changed from BGN 169.6 million to BGN 178.8 million. The mechanism for providing compensation remains the same, the government press office said.
Source: mediapool.bg (15.07.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) Bulgarian Energy Holding EAD-Sofia presented a six-month report for the period 01-01-2022 -- 03-31-2022 for compliance with the issuer's obligations to bondholders for issue XS1839682116.
Source: BSE (01.08.2022)

The State Energy Agency provides another BGN 700 million in subsidies for business electricity The Council of Ministers decided that "Bulgarian Energy Holding" (BEH) will deduct a new BGN 700 million from the excess profits of its subsidiaries Kozloduy NPP and NEK to compensate for the high electricity bills of the business until the end of the year, the government press service announced. The decision was made in absentia. A month ago, BEH contributed BGN 456 million to the Electric Power System Security Fund (FSES), according to the legal changes. The current amount of BGN 700 million was calculated on the basis of reporting and forecast data for the period June - August 2022. The money will go to help businesses due to expensive electricity for the period from July 1 to September 30, 2022. According to the FSES budget update must fully cover the difference between the real average monthly exchange price in the "Day Ahead" trade of the electricity exchange for the corresponding month and the fixed electricity price ceiling of BGN 250/MWh. From September onwards, there is no provision for compensation for businesses, and electricity prices remain high. The caretaker government has already announced that since there are no funds planned for after the end of September in the budget, it cannot take any action. The head of the energy regulator, Ivan Ivanov, believes that if the aid is continued, it should be specified, not given to everyone and not to stimulate the saving of electricity.
Source: mediapool.bg (15.08.2022)

Sofia can transfer "Heating" to the state The ownership of the capital's "Heating" can be transferred to the state. The deal is being discussed as debt for property. The company owes over BGN 1 billion, mainly to the Bulgarian Energy Holding (BEH) and Bulgargaz. According to unofficial information, there are negotiations between the state and the municipality on how to make the transfer. It will also be established whether the value of the assets of the company covers the debts. Such a decision must also be approved by the Metropolitan Municipal Council, which is the principal of the company. Energy Minister Rosen Hristov announced that he was starting a "large-scale restructuring of "Toplofikatsia-Sofia", without giving further details. Private investor According to sources, the goal is, after the acquisition of "Toplofikatsia" by the state and the full or partial clearing of debts, the company will be given to management of a private company. This will make it easier to attract an investor, and according to unofficial information, at the moment there was interest in the capital's heating system from an external investor. In fact, the municipality's intentions for the future of "Toplofikatsiya" are similar. In July, the local government gave the green light to the company to prepare a public tender to find an investor for the construction of new combined heat and power facilities. In return for providing the funds for their construction, this investor will operate the steam plant for 35 years. According to Mediapool sources from however, the municipality wants the transfer and the process of finding an investor from the state to s happened under a regular government. Later on Wednesday, the mayor Yordanka Fandakova announced that a working group was created with the participation of representatives of the municipality, the Ministry of Energy, BEH and "Toplofikatsia-Sofia" in which "together with the state" to find "the best solutions and to guarantee the functioning of "Heating".
Source: mediapool.bg (25.08.2022)

The state and the municipality tackled the future of "Heating - Sofia" The state and the municipality tackled the future of "Heating - Sofia". The working group, which must find a way to heal the municipal company, met for the first time on Friday. It is attended by the Minister of Energy Rosen Hristov, representatives of the Bulgarian Energy Holding (BEH), the Capital Municipal Council and the Capital Municipality, the municipal council announced. As Mediapool wrote, the main option for the future of the indebted municipal "Heating" is for it to be transferred to the state in the person of BEH against the debts it has accumulated to the energy holding. Thus, the steam plant will get rid of its huge liabilities, and then a private investor will be sought to take over its management. At the meeting on Friday, it was confirmed that "the Ministry of Energy accepts the approach of the Metropolitan Municipality for the modernization of the company by attracting an external investor and building new capacities". The municipal council, which is the principal of "Toplofikatsia", decided that the company should prepare a public order for the selection of a private company to invest in the construction of new capacities for the combined production of electricity and heat. The idea is that against securing the funds, she will manage "Toplofikatsia" for 35 years. At the moment, it is not clear whether, after the eventual transfer of the capital's heating to the state, the private investor will be sought according to the procedure approved by the municipal council, or it will be done in another way.
Source: mediapool.bg (29.08.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) Bulgarian Energy Holding EAD-Sofia presented a six-month report for the period 01-04-2022 -- 30-06-2022 for compliance with the issuer's obligations to bondholders for issue XS1839682116.
Source: BSE (02.09.2022)

BEH's profit grew by almost 400% in the first half of the year As of June 30, 2022, the profit before interest, taxes and depreciation (EBITDA) of the Bulgarian Energy Holding (BEH) reached BGN 2.8 billion, which is an increase of 395.5% compared to the first half of 2021, according to a report of the company published in connection with its obligations under the Law on Public Offering of Securities. Total revenues for the period were BGN 9.84 billion, or an increase of 167 percent, as can be seen from the preliminary and unaudited data on the website of the Bulgarian Stock Exchange. BEH has the obligation to publish on the website of the exchange a report on its activities in connection with the bond issue issued in 2018 in the amount of EUR 600 million. According to the requirements of the issue, the holding must maintain an earnings coverage ratio (EBITDA) of at least 4. As of the half-year, this ratio is already 35.6, after 5.94 for the same period last year. The consolidated debt ratio should be no more than 4.5, and according to the latest data it has decreased to 0.06, compared to 1.75 in the same period last year. BEH notes that according to these indicators, they are not in violation of their obligations to comply with the financial terms of the contract. The funds from this issue were used by the energy holding to refinance an old issue for BGN 500 million, the maturity of which was in November 2018, as well as the assignment of the liabilities of "Toplofikatsia-Sofia" to "Bulgargaz" in the amount of 99.1 million BGN, carried out in August 2018. The issue of bonds for 500 million euros was placed in 2013, and the funds went to cover obligations related to the construction of the Belene NPP. According to the terms of the new issue, BEH, or any of its subsidiaries, no longer have the right to directly or indirectly assume financial obligations of the National Electric Company (NEK), if the company is declared by a court to be over-indebted.
Source: investor.bg (05.09.2022)

The Council of Ministers approved a targeted contribution by "Bulgarian Energy Holding" EAD to the Electricity System Security Fund (FSES) in an indicative amount of BGN 970 million. The indicative amount of the contribution, for which funds should be provided to BEH EAD by its subsidiaries - electricity producers, was calculated on the basis of reporting data for the month of August and forecast data for the month of September 2022. The funds are intended to cover the costs of implementation of the Program for compensating the costs of non-domestic end customers for electricity and the operators of the electricity transmission and distribution networks for the purchase of the quantities of electricity needed for technological costs for the period from July 1, 2022 to September 30, 2022. The FSEU follows to compensate non-household final customers of electricity in the amount of 100 percent of the difference between the real average monthly exchange price for base load of the "Day Ahead" segment of the "Bulgarian Independent Energy Exchange" EAD, for the relevant month, and the base price of BGN 250/MWh for the period from July 1 to December 31, 2022.
Source: economic.bg (08.09.2022)

The state has 264 companies with a capital of nearly BGN 27 billion. 264 state enterprises with a total capital of BGN 26.85 billion. This is the picture of the state economy in our country as well, according to the data of the Agency for Public Enterprises and Control. The agency was able to come up with a state policy to manage the enterprises without proceeding with any financial analysis of what they have achieved so far. The document, which is being adopted in compliance with a legal requirement and as part of meeting OECD standards, has been published for public consultation. The large number of state-owned enterprises is mainly due to the health care sector - in addition to the state-owned hospitals, which have the status of commercial companies. Among the other ministries with the largest number of enterprises is the Ministry of Economic Affairs (37), the Ministry of Economy with 20 companies, the Ministry of Transport and Agriculture - with 19 and 18, respectively, the Ministry of Defense - 15 and the Ministry of Energy - 10. As a form of ownership, most state-owned enterprises are commercial companies - 246, 18 companies established by special laws and under a special order in TK companies. Among these companies with the largest weight in terms of equity capital are the companies under the Ministry of Energy - BGN 16.7 billion. The energy sector is of structural importance for the economy, as the total share of companies to BEH (b. r.) as capital is 9.9% of GDP for 2021. In second place in terms of equity is the portfolio of companies under the Ministry of Transport - BGN 3.7 billion. This is one of the few financial indicators for companies available in the proposed new policy for state participation in public enterprises. No analysis of their activity is offered at the moment, and it is impossible to understand where serious problems have accumulated.
Source: Sega (12.09.2022)

The municipal company "Toplofikatsia-Sofia" has signed a gas supply contract with the state company "Bulgargaz" for the next year. The contract comes into effect on January 1, 2023. Due to the debts of "Toplofikatsia" to "Bulgargaz" and "Bulgarian Energy Holding" (BEH) in the amount of BGN 743 million, the municipality of Stolichva will probably transfer the company to the state, and the transaction will is debt versus property. However, guarantees will be sought that the company will remain public. The state, represented by the Ministry of Energy, will look for a private investor and operator of "Toplofikatsia". At the moment, there was initial interest from "Veolia" and "Contour Global", but an invitation to participate in the upcoming tender will be sent to all large energy companies with a similar profile.
Source: mediapool.bg (13.09.2022)

EWRC asks the capital's steam plan to pay its gas debt Another inspection by the Energy and Water regulatory Commission in "Toplofikatsia Sofia" "discovered" that the steam company is accumulating debts due to the drastic increase in the price of gas and the increased costs of harmful emissions. The audit was carried out after in July the state supplier Bulgargaz threatened to stop gas for the capital's heating system due to overdue debts of BGN 328 million. In the meantime, the municipality, which is the owner of the heating company, and the state agreed on a partial repayment of the heating debts to "Bulgargaz" and "Bulgarian Energy Holding". The threat to cut off gas from September 1 was not carried out. The now announced results of the EWRC inspection of "Toplofikatsia Sofia" did not reveal any violations in the company. It is indicated that the accumulation of debt to "Bulgargaz" is a consequence of the "unprecedented price growth during the past price period, as well as some regulatory factors". "The reason for the company not being able to cover this debt is the significantly increased costs of purchasing natural gas and greenhouse gas emissions, although during the period higher revenues were received from exchange sales of electricity, including revenues from off-license activities (share distribution, proceeds from legal claims, provision of services, etc.)", reports the commission. The regulator asks "Toplofikatsia Sofia" to give a schedule for repaying the obligations to "Bulgargaz" by September 30 and to inform about "all the actions it takes to improve its financial situation".
Source: mediapool.bg (23.09.2022)

The Council of Ministers approved a targeted contribution by "Bulgarian Energy Holding" EAD to the "Security of the Electricity System" Fund (FSES) in the amount of BGN 650 million. The indicative amount of the contribution, for which funds should be provided to BEH EAD by its subsidiaries - electricity producers, was calculated on the basis of reporting data for September 2022 and forecast data for October and November 2022. The funds are intended to cover the costs of implementing the Program for compensating the costs of non-domestic end customers for electricity and of the operators of the electricity transmission and distribution networks for the purchase of the quantities of electricity needed for technological costs for the period from July 1, 2022 to September 30, 2022. According to the adopted Law on Amendments and Supplements to the Law on the State Budget of the Republic of Bulgaria for 2022, FSES should compensate non-domestic final customers of electricity in the amount of 100% of the difference between the real average monthly exchange price for base load of the "Day Ahead" segment of "Bulgarian Independent Energy Exchange" EAD, for respective month and the base price of BGN 250/MWh for the period from July 1 to December 31, 2022.
Source: 3e-news (06.10.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) Bulgarian Energy Holding EAD-Sofia presented a six-month report for the period 01-04-2022 - 30-06-2022 for compliance with the issuer's obligations to bondholders for issue XS1839682116.
Source: BSE (14.10.2022)

Kozloduy NPP continues to set records in its revenue and profit. After reporting BGN 1 billion for the first quarter of the year, by the end of the nine months the plant's profit exceeded this amount and reached BGN 1.37 billion. This is BGN 651 million more on an annual basis and is mainly due to the high electricity market prices. It is precisely from the sale of electricity that the revenues - BGN 5 billion, which is 223% more than a year ago - were formed. BGN 2.13 billion were contributed to the "Security of the Electricity System" fund. The profit of the Bulgarian Energy Holding is even greater - BGN 1.44 billion, which is almost a double increase compared to the end of September 2021. One the reason for this is the reduced loan to TPP Maritsa-Iztok 2, after BGN 550 million was repaid ahead of schedule. The second reason is the larger dividends received from Kozloduy NPP and ESO. BGN 61.4 million is the profit of "Mini Maritsa-East", with BGN 51.8 million more on an annual basis. The company's revenues increased by 55% to BGN 633.4 million, which is due to increased coal production and higher coal prices.
Source: 24 chasa (14.11.2022)

NEK reports a profit of over BGN 820 million The National Electric Company (NEK) registered another record in the state energy sector. After the impressive results of the Kozloduy NPP and Maritsa-Iztok 2 TPP for the nine-month period, NEK reported a profit of BGN 822 million against BGN 278.2 million for the same period last year. NEK's liabilities decreased to BGN 2.9 billion against the background of over BGN 4 billion a year earlier, the company's financial report also shows. This happened after the company repaid a billion dollar loan to the state. Short-term liabilities to the so-called also decrease. related parties (such as the BEH group for example), with the amount being BGN 176.5 million against the background of BGN 305.6 million for the same period of 2021. NEK's total revenues have grown to BGN 3.9 billion (at BGN 2.6 billion BGN a year earlier). However, it is interesting that sales revenue alone is BGN 3 billion, or over 90% more compared to last year, when it was just over BGN 1.5 billion. The company's revenue as a supplier of last resort ( DP AND). For the nine months of 2022, they grew by a colossal 614.7% to BGN 86.1 million (from BGN 12 million a year earlier). The company sold 157,452 mWh of electricity to businesses compared to just 58,518 mWh in the nine months of last year.
Source: Capital (16.11.2022)

The Council of Ministers approved a targeted contribution by BEH to the Power System Security Fund The Council of Ministers approved a targeted contribution by "Bulgarian Energy Holding" EAD to the "Security of the Electricity System" Fund (FSES) in the amount of BGN 200 million. The funds are provided by BEH's subsidiaries, electricity producers. They are calculated on the basis of reporting data for October and forecast data for November and December 2022. The money is for compensation of non-household customers of electricity and the operators of the electricity transmission and distribution networks for the period from October 1 to December 31, 2022. FSES follows to compensate non-household final customers of electricity in the amount of 100 percent of the difference between the real average monthly exchange price for base load of the "Day Ahead" segment of the "Bulgarian Independent Energy Exchange" for the relevant month and the base price of BGN 250 per megawatt hour for the period from July 1 to December 31, 2022.
Source: 24 chasa (17.11.2022)

Bulgarian Energy Holding EAD-Sofia (04HA) Bulgarian Energy Holding EAD-Sofia presented a six-month report for the period 01-07-2022 -- 30-09-2022 for compliance with the issuer's obligations to bondholders for issue XS1839682116.
Source: BSE (29.11.2022)

1.5 billion BGN debts await "Toplofikatsia-Sofia" at the end of the season The debts of "Toplofikatsia-Sofia" are expected to exceed BGN 1.5 billion at the end of the heating season. By the end of the heating season, the liabilities to Bulgargaz will reach BGN 750 million, and to the Bulgarian Energy Holding (BEH) - over BGN 800 million. With these calculations, based on the estimated price of gas, the municipal company will owe over BGN 1.5 billion at the end of the season.
Source: news.bg (01.12.2022)

25 Bulgarian companies among the largest in Europe 25 Bulgarian companies are among the largest in Central and Eastern Europe in terms of revenues and profits, according to the ranking for 2021 of the analysts from "Cofas". The Bulgarian energy holding is in 15th place, and the consolidated revenues for 2021 are EUR 5.7 billion. The energy companies also include the coal plants "Contour Global Maritsa-East 3" and "Maritsa-East 2", NPP "Kozloduy", "Bulgargaz", "Energo-Pro Varna". "Eurohold" also enters the top 500 of Central and Eastern Europe after the purchase of CEZ's business in our country. From the telecommunications business, "A1 Bulgaria" is included in the ranking. Among the companies included for the first year are "Advance Properties" and "Huveproject". Another representative of the pharmaceutical business in the ranking - a manufacturer of medicines for humans, is "Sopharma". The oil business is represented by Lukoil Bulgaria, Lukoil Neftohim Burgas, Astra Bioplant and Saksa. "Aurubis Bulgaria" is also in the top 500, occupying a relatively leading place in the ranking. The executive director is Tim Kurth, and the metal mining company is owned by the German "Aurubis".
Source: 24 chasa (02.12.2022)

NEK with upgraded outlook from Standard&Poors The international rating agency Standard & Poor's raised the outlook of "National Electric Company" EAD to positive due to improvement in credit indicators and confirmed its long-term credit rating of BB-. The expectations of the rating agency are that in the next two to three years, the liberalization of the electricity market in Bulgaria will lead to an improvement in the creditworthiness of NEK and "Bulgarian Energy Holding" EAD and to a reduction in the level of indebtedness of the state company. This process has already started through the payment by NEK of over BGN 1 billion of historically accumulated liabilities to the Bulgarian state. The rating of NEK continues to depend on the financial condition of "Bulgarian Energy Holding".
Source: Banker (15.12.2022)

Over BGN 205 million have been contributed by BEH to the Electricity System Security Fund to support business The Council of Ministers decided to contribute BGN 205 million from Bulgarian Energy Holding to the "Security of the Electricity System" Fund in order to cover costs for business support due to high electricity prices.
Source: econ.bg (22.12.2022)