Bulgaria govt considering partial privatisation of BEH once again The idea for part of the shares of the Bulgarian Energy Holding (BEH) and its subsidiaries to be sold on the BSE – Sofia has returned to the agenda. This is one of the mid-term measures to stabilise the energy field, it transpires from a paper worked out by the Energy Ministry. The idea to sell part of BEH on BSE is not new. It was put forward for discussion for the first time in end-2011 during the first government of the Citizens for European Development of Bulgaria (CEDB). Initial plans envisaged the sale of 15% of BEH via the BSE or an international market or offering packages of 20 – 25% to the Electricity System Operator (ESO) and the gas operator Bulgartransgaz alone. Afterwards it transpired that the government intends to seek a strategic investor for the energy holding, which was supposed to happen until end-2012. In the end, in October 2013 the BEH issued a bond emission of EUR 500 million with a coupon of 4.25%.
Source: Capital (09.01.2015)

Bulgaria Will Not Launch New N-Plant Units until 2024 – Forecast Bulgaria will not launch new nuclear capacity in the next 10 years, according to a forecast of the Electricity System Operator (ESO). According to state-owned ESO, the Maritsa-Iztok 2 thermal power plant will not need an expansion by units 9 and 10 over the next 10 years. The forecast, as cited by Pressa daily, is part of a draft plan for the development of the electricity network in the period 2015-2024. According to the document, the construction of the Belene nuclear power plant was stopped through decisions of Bulgaria’s government and Parliament. As regards the project for unit 7 of the Kozloduy nuclear power plant, the forecast suggests that it should enter into service after 2025 due to the lengthy conciliation proceedings. ESO also cites a forecast of the European Commission by 2050 under which Bulgaria is expected to unveil new nuclear capacity after 2035. At the same time, the forecast envisages an increase in the capacity of the 1000-MW units 5 and 6 of the Kozloduy NPP by 100 MW through upgrades of the turbines. The Gorna Arda hydro power project will be built to include 3 dams and 3 hydroelectric power plants, with the Byal Izvor hydroelectric power plant scheduled to become operational first, in 2022, with a capacity of 44 MW. One year later, the Ardino HPP is to be launched with a capacity of 56 MW, and in 2024, the Gorna Arda hydro power project is be completed with the launch of the Kitnitsa HPP with a capacity of 66 MW.
Source: econ.bg (09.02.2015)

Bulgargaz and Bulgartransgaz held over 25% of their money in CCB The total amount of cash in the CCB of the Bulgarian Energy Holding (BEH) and its subsidiaries amounted to BGN 132.839 million, said Minister of Energy Temenuzhka Petkova. "In particular, the holding’s current accounts in CCB amounted to BGN 44.073 million at the time of placing the bank under special supervision. On June 20, 2014 NPP Kozloduy had cash in the CCB of over BGN 4 million. The requirement for a net concentration is observed as of June 30, 2014. NEK had BGN 14 million in CCB. The company has a contract with the bank following a procedure of public procurement law. Minister Petkova pointed out that the choice of bank is approved by resolution of the Board of Directors. Cash of ESO in the bank amounted to over BGN 3 million.
Source: Presa (27.05.2015)

EU energy package to fund Bulgaria power line, gas storage study The European Commission said on July 14 that the EU governments have approved a package of 150 million euro in funding for gas and electricity infrastructure projects across the EU, including two in Bulgaria. A total of 20 projects were selected for funding – mainly studies that would receive a total 30 million euro, including 3.9 million euro for 3D seismic surveys as part of Bulgaria’s preparations to expand its underground gas storage facility at Chiren. The package also envisions funding for three construction projects, including 29 million euro for a new 400kV overhead transmission line in Bulgaria, linking the Maritza Istok power plants in southern Bulgaria to the Black Sea port of Bourgas. The Commission said that the new electricity transmission line was part of a cluster of four lines increasing the connectivity between Bulgaria and Greece. The overarching goal of all projects slated to receive funding was to increase energy security and contribute to the completion of a European energy market, as well as the integration of renewable energy sources into the electricity grid, according to the Commission statement. “The completion of a truly competitive EU-wide energy market is essential in order to turn the Energy Union into a reality. But without reliable and well-connected energy networks this will not happen. This is why we are investing in projects to integrate the market further and to diversify sources and routes, in particular in Central Eastern and South Eastern Europe as well as in the Baltic region,” energy commissioner Miguel Arias Canete said.
Source: Monitor (15.07.2015)

Bulgaria’s Electricity Export Up 31.7% Y/Y in Jan-Sept By end-September 2015, Bulgarian producers of electricity exported 8.42 million MWh, according to operational data of the Electricity System Operator (ESO). Bulgaria’s electricity export went up by 31.7% on an annual basis during that period. One of the reasons behind the increase is the increased capacity of the network via which electricity is supplied to Greece to a rate of 700 MWh, which was used in the summer months when electricity consumption is traditionally higher. ESO data, as cited by investor.bg, also indicates a slight slowdown of the growth in electricity export, taking into account that growth stood at 35% in the first eight months of 2015. However, the slowdown is typical for the autumn months, when electricity consumption traditionally shrinks. In the first nine months of 2015, the electricity production went up by 8.8% to 36.5 million MWh, while electricity consumption added 3.4%. In the first nine months of 2015, Bulgaria’s power consumption stood at slightly over 28 million MWh. ESO continues to report growth in the production of electricity by hydroelectric power plants. In the period January - end-September 2015, a total of 5.4 million MWh of electricity was produced by hydroelectric power plants in the country, up by 54.5%, according to ESO data.
Source: investor.bg (02.10.2015)

Miners want smaller coal mining Podkrepa union demanded that the coal production from open coal mines in the state Mini Maritsa Iztok EAD-Radnevo is sharply reduced. It already warned the Ministry of Energy, NEK and ESO that in the next six months they can count on only 14 million tons for the three thermal power plants in the complex. These amounts will go to maintain no more than 2800 megawatts of power, which will require or emergency import of electricity or power cuts. "We are forced to this step because of the huge amounts of abandoned work areas. The danger of collapsing mines and repetition of the spring of 1987, a year when Bulgaria became a huge 'disco’ is real, said the leader of Podkrepa in the company Gencho Genchev . Delay in the disclosure of the layers is due to the difficult economic situation and suspended payments by TPP AES and TPP Contour Global Maritsa East 3. Miners are due BGN 450 million, reminded Dimitar Manolov, president of Podkrepa. It is clear that the state must find a way to buy the assets of both plants. The same idea was announced by CEIBG.
Source: Monitor (15.10.2015)

Electricity exports to Greece and Turkey slumped at the end of last week compared to two months earlier, according to the Electricity System Operator. MPs of the parliamentary Energy Committee attributed the twofold drop to the uncompetitive price of Bulgarian electricity. Traders have recently been buying cheaper electricity on the exchanges in Hungary and Romania to export it to Bulgaria's southern neighbours. In the first ten months of 2015, electricity production in Bulgaria increased by 6.43 per cent
Source: Trud (16.11.2015)

Energy Exchange starts test run on December 11 The Independent Bulgarian Energy Exchange is expected to start test operation with real participants on 11 December, said CEO of the Exchange Konstantin Konstantinov. A demonstration session, which will include stock registered members, will be organized. As of October 1 the market has 11,500 participants, including 70 large commercial companies, 11 producers and small and medium enterprises, added Emilia Zhelyazkova, an analyst at the Electricity System Operator (ESO). According to her, licensed and registered traders of electricity are already 150. Only 40 of them are active. Power quality does not depend on workers, it is determined by the degree of stability of the network, its age and the investments, reminded energy ombudsman of CEZ Radoslav Dimitrov. In Western Bulgaria the network is owned by CEZ - Distribution, its quality is not very good in any case is not European, admitted the Ombudsman.
Source: Dnevnik (04.12.2015)

Bulgaria's NPP Kozloduy meets early 2015 output target of 15,304 GWh The operator of Bulgaria's sole nuclear power plant (NPP) Kozloduy said on Wednesday it produced 15,303,928 MWh of elecricity since the beginning of the year, meeting its annual plan a day early. By the end of 2015 the plant's 1,000 MW units 5 and 6 are expected to operate at 100% capacity, NPP Kozloduy said in a press release. Kozloduy NPP, a subsidiary of state-operated Bulgarian Energy Holding, remained with two operational reactors - Units 5 and 6 - of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007. In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant. The NPP's planned Unit 7 is seen operational after 2025 due to the project's long synchronisation procedures, the country's electricity transmission system operator said in March.
Source: Darik Radio (30.12.2015)