On the first of July State Energy and Water Regulatory Commission will make decision whether to give licence for providers of last resort of electric distribution companies (EDC) and the National Electric Company (NEC). At an open meeting State Energy and Water Regulatory Commission examined expert reports for granting licenses for operation “delivery of electricity supply of last resort”, of NEC, CEZ Electro Bulgaria, Energo-Pro Sales, EVN Bulgaria Electricity and ESP Golden Sands. After licenes are handed, the Commission is expected to take up and control implementation of methods for defining prices of electricity that these companies are to provide. After NEC and electric distribution companies get licences, they are to have a month’s time to notify their customers, who are expected to buy electricity from the free market. Electricity consumers of medium voltage that are supplied by provider of last resort will have to pay the price of electricity determined by NEC, plus a fixed margin for the provider itself.
Source: Duma (26.06.2013)

"Golden Sands" is at a loss for the nine months due to the growth of expenses Total revenues of "Golden Sands" AD amounted to BGN 11.24 million at the end of September, compared to BGN 8.62 million a year earlier. The main cash receipts of the company are from tourist services and catering - BGN 5.69 million, and from infrastructure contributions and rents - BGN 3.31 million. The company's operating expenses amount to BGN 11.31 million compared to BGN 7.21 million a year ago. A total of BGN 2.61 million was spent on materials and raw materials, and BGN 1.68 million was spent on external services. The remuneration of the staff increased during the period to BGN 1.90 million compared to BGN 1.55 million a year earlier. The higher growth rate of operating costs is the reason why "Golden Sands" ended the third quarter with a loss of BGN 75,000. For comparison, a year ago the company had a profit of BGN 1.41 million. In connection with the implementation of investment projects, the company has concluded a contract with a commercial bank for a long-term investment loan. As of September 30, 2023, the total amount of the obligation is EUR 5.50 million with the BGN equivalent of BGN 10.76 million, including long-term part BGN 9.19 million. The final maturity of the loan is October 31, 2030, with a grace period for returning the principal in the first year of the conclusion of the contract. In August, the Board of Directors of "Golden Sands" decided for the company to sign an annex as a joint debtor to an overdraft agreement concluded between "United Bulgarian Bank" and "ESP Golden Sands" OOD, an interested party, under which the bank provided "ESP Golden Sands" Ltd. credit up to BGN 500,000. "ESP Golden Sands" Ltd. is a separate company that has a license for the public supply of electricity in the "Golden Sands" resort complex. It is part of the "Golden Sands" group. During the period, "Golden Sands" granted an additional loan to the subsidiary company "Aquapolis" OOD in the amount of BGN 400,000, with a repayment term of December 31, 2024, at an interest rate of 3.5%, starting from January 1 of this year. At the beginning of this financial year and at the end of the third quarter, "SBH Tour" EAD, Sofia, is the largest shareholder in the company, directly owning 49% of the capital. "S-Travel" EAD, Sofia, directly owns a share of 32.60 percent, and "Eco Beef Invest" EOOD, Sofia, directly owns 10.99% of the voting rights.
Source: Banker (14.11.2023)