BEH's revenues have soared The Bulgarian Energy Holding (BEH) reported over 90% growth in revenues to BGN 312 million for the nine months of last year. For this period there was growth in the profit - before taxes it was BGN 137.7 million, or an increase of about 15% compared to a year earlier. This shows the company's report published by the finance ministry. The enormous increase in revenues is mainly due to the dividends paid by the BEH companies, the biggest contribution coming from the Kozloduy NPP. The sale of the energy exchange for BGN 5.2 million on the Bulgarian Stock Exchange also affected the revenues of BEH. The Maritza-Iztok Mines has contributed with a profit of BGN 3.5 million and has also transferred 50% of its dividend to BEH. Another state energy company - Bulgargaz - has recorded profit. Nevertheless, the company registered a drop in its net income to BGN 4.1 million for the nine months of 2018. For comparison, in the same period a year earlier they were almost BGN 20 million. NEK is also performing with a declining trend in its results. The company reported a negative financial result for the nine months amounting to BGN 153.4 million, compared to the same period in 2017, when the decline was by BGN 62.4 million. However, Bulgartransgaz and the Electricity System Operator show positive results, whose profit for the nine month was BGN 23.4 million.
Source: Sega (09.01.2019)

State-Owned Energy Companies to Offer More Electricity on Exchange to Stabilize Electricity Market Bulgaria's state-owned energy companies have committed to offer an extra amount of electricity on the Day Ahead Market of the energy exchange in an attempt to stabilize trading, Energy Minister Minister Temenouzhka Petkova told a news briefing here on Monday after government officials and business executives met to map out measures to settle the situation in the local electricity market. The meeting was hosted by the Energy and Water Regulatory Commission (EWRC) and involved the Energy Ministry leadership, managers of the three state-owned companies which supply the bulk of electricity on the free market (the Maritsa East 2 TPP, the Kozloduy N-Plant and the National Electricity Company (NEK)), managers of the Bulgarian Energy Holding, the Electricity System Operator, the Independent Bulgarian Energy Exchange (IBEX) and the electricity distribution companies. Last week trade unions, employers and government representatives called for urgent measures to ease tensions on the electricity market and in industry. The unions and employers identified three problems: first, the persistent state monopoly, considering that the Maritsa East 2 TPP, NEK and the Kozloduy N-plant are the main sellers and can influence prices; secondly, the purchase at whatever price of about 30 per cent of the electricity on the Day Ahead Market by the three electricity distribution companies to offset their technological losses, which inflates the average prices; and, third, the 38 leva/MWh public obligation surcharge, which pushes up domestic prices but is not paid when electricity is exported. Petkova said the state-owned energy companies now supply 690 MWh, which will increase to over 700 MWh as of January 19, at about 44 leva/MWh. Last week the press compared the January 8 day-ahead price of 207 leva/MWh to the year-earlier level of about 67 leva/MWh. EWRC Chairman Ivan Ivanov said that accelerated steps will be taken this year towards market coupling with the energy exchanges of Southeastern Europe. To this end, the Energy Act will have to be amended to abolish the export charge. IBEX CEO Konstantin Konstantinov said negotiations on Day Ahead Market coupling were most advanced with Macedonia's energy exchange. As to the Intraday Market, coupling with the Romanian energy exchange is likely to take place first.
Source: investor.bg (15.01.2019)

State-Owned Energy Companies to Offer More Electricity on Exchange to Stabilize Electricity Market Bulgaria's state-owned energy companies have committed to offer an extra amount of electricity on the Day Ahead Market of the energy exchange in an attempt to stabilize trading, Energy Minister Minister Temenouzhka Petkova told a news briefing here on Monday after government officials and business executives met to map out measures to settle the situation in the local electricity market. The meeting was hosted by the Energy and Water Regulatory Commission (EWRC) and involved the Energy Ministry leadership, managers of the three state-owned companies which supply the bulk of electricity on the free market (the Maritsa East 2 TPP, the Kozloduy N-Plant and the National Electricity Company (NEK)), managers of the Bulgarian Energy Holding, the Electricity System Operator, the Independent Bulgarian Energy Exchange (IBEX) and the electricity distribution companies. Last week trade unions, employers and government representatives called for urgent measures to ease tensions on the electricity market and in industry. The unions and employers identified three problems: first, the persistent state monopoly, considering that the Maritsa East 2 TPP, NEK and the Kozloduy N-plant are the main sellers and can influence prices; secondly, the purchase at whatever price of about 30 per cent of the electricity on the Day Ahead Market by the three electricity distribution companies to offset their technological losses, which inflates the average prices; and, third, the 38 leva/MWh public obligation surcharge, which pushes up domestic prices but is not paid when electricity is exported. Petkova said the state-owned energy companies now supply 690 MWh, which will increase to over 700 MWh as of January 19, at about 44 leva/MWh. Last week the press compared the January 8 day-ahead price of 207 leva/MWh to the year-earlier level of about 67 leva/MWh. EWRC Chairman Ivan Ivanov said that accelerated steps will be taken this year towards market coupling with the energy exchanges of Southeastern Europe. To this end, the Energy Act will have to be amended to abolish the export charge. IBEX CEO Konstantin Konstantinov said negotiations on Day Ahead Market coupling were most advanced with Macedonia's energy exchange. As to the Intraday Market, coupling with the Romanian energy exchange is likely to take place first.
Source: Standart (15.01.2019)

Brussels gave half of the money for 122 km of power line from Maritza East to Nea Santa The Electricity System Operator has attracted European co-financing of up to BGN 58 million for the construction of the 400 kV Maritza East-Nea Santa interconnection. The EC provides 50% of the necessary funds for the construction of the power line, totaling BGN 116 million. The other half ESO will cover with its own funds. In 2015 ESO and the Greek independent transmission operator signed a Memorandum of Understanding for the construction of the power line. The power line will strengthen the 400 kV grid in the region, significantly increasing the possibility of electricity exchange between the two countries and will support the realization of the generated electricity from renewable sources in the territory of Northeastern Greece and South Bulgaria. The project increases the net trading capacity at the two borders Bulgaria - Greece and Bulgaria - Turkey, accelerates market integration, competition and flexibility of the system. The power line is one of the five projects implemented by the Electricity System Operator with status of projects of common European interest under Regulation 347/2013 for the construction of trans-European infrastructure. The total length of the new 400 kV power lines is approximately 480 km with an investment value of BGN 500 million.
Source: Monitor (24.01.2019)

NEK wants 20 per cent more expensive home electricity The National Electricity Company (NEK) demands that since 1 July household and small businesses electricity price rise by almost 20%, according to the report of the company to the KEVR. The envisaged average purchase price of the households and the regulated electricity market from July 1 is BGN 151 per megawatt, which is nearly 20% higher than the current price. So far, this is the highest demand submitted to the Energy and Water Regulatory Commission. At the end of March, a proposal for new electricity prices was introduced by the three electricity distribution companies. The largest increase was claimed by CEZ - by nearly 9%. EVN offered electricity to rise by 4%, and Energo-Pro - by 1.7%. The Energy Regulator will take a final decision on electricity prices at the end of June. Meanwhile, it became clear that, according to the data of the Electricity System Operator (ESO), Bulgaria exported nearly 60% more electricity in the first quarter of this year compared to the same period last year.
Source: Duma (08.04.2019)

ESO started construction of 150 km of 400 kV power line from Maritza East to Burgas The Electricity System Operator (ESO) has started the construction of a 400 kV internal power line between Maritza East and Burgas. The power line is one of the five projects of common European interest that ESO implements under Regulation 347/2013 for the development of trans-European energy infrastructure. The 150 km pipeline connects the substation Maritza East with substation Burgas. It is part of Bulgaria's internal 400-kilovolter transmission network. The airline is part of a Group of Projects ‘Bulgaria – Greece’, which are of common interest under Regulation 347/2013. The project is of key importance for the realization of the North-South priority energy corridor and for the construction of the trans-European energy infrastructure. The power line is of general importance for Bulgaria and improves the safety of the transmission system. For the realization of the investments, funding from the European Connecting Europe Facility was raised to the amount of BGN 60 million for the construction of the new 400 kV internal power line between the substation Maritza East and the substation Burgas.
Source: Monitor (16.05.2019)

Employers want the CPC to investigate Kovachki's district heating utilities The four nationally-represented employers' organizations have called on the CPC for misappropriation by district heating utility companies, coal-fired power stations and a power trader from the group of energy boss Hristo Kovachki on the electricity exchange and want their activity to be inspected. According to the Bulgarian Industrial Capital Association, the Bulgarian Industrial Association, the Bulgarian Chamber of Commerce and Industry and the Confederation of Employers and Industrialists in Bulgaria, these companies influence the free negotiation of the free market, buy energy from the producers, create artificial deficit and inflate prices. The business points out as involved in the misappropriation the district heating plants in Burgas, Pernik, Pleven, Ruse, Veliko Tarnovo, Vratsa, Sliven and Gabrovo, Bobov Dol and Maritza 3 coal-fired power stations, the Brikel factory and Grand Energy Distribution trader, which at the same time represents the municipal Heat Supply Sofia, which in turn is occupied by employees of Kovachki.
Source: mediapool.bg (23.07.2019)

Over BGN 1.3 billion will invest ESO in the electricity transmission infrastructure over the next 10 years The Energy and Water Regulatory Commission will take a decision in a closed session on 19 August on the ten-year plan for the development of Bulgaria's electricity transmission network for the period 2019-2028. The document developed by the Electricity System Operator (ESO) was submitted to a public hearing on Wednesday. The ten-year plan for the period 2019-2028 was published for public discussion. It covers the main electricity transmission infrastructure that is foreseen for construction, expansion, reconstruction and modernization over the period. The development of the electricity grid is in line with a schedule, with a sufficient time perspective, so that all activities related to the coordination, design, construction and commissioning of the planned new facilities can be accomplished without disturbing the normal functioning of the power system. For the first time in the report, ESO's experts take into account the impact of some not so noticeable factors such as energy efficiency and new technologies in recent years, EWRC experts note.
Source: 3e-news (26.07.2019)

10-year energy system plan without Belene NPP, but with Dogan’s TPP Bulgaria will have sufficient electricity production capacity at least by 2028 and therefore no difficulties in electricity supply are expected under normal meteorological and emergency conditions. This is the main conclusion in the 10-year plan for the period 2018 - 2027 prepared by the Electricity System Operator (ESO), the state-owned enterprise that operates the electricity transmission network in Bulgaria. The project does not include the Belene NPP project, although the government has resumed the procedure for its construction. Instead, the power plant owned by Ahmed Dogan TPP Varna is present in ESO's accounts, not only with its three power units, which it claims to have equipped to run gas, but with all six. In practice, this means that by 2025, TPP Varna will be the second largest producer of electricity in the country after Kozloduy NPP. The state-owned TPP Maritza East 2 was left without one of its units this summer, after obe of its chimneys was destroyed in a fire and because of the company's critical financial condition, the facility is unlikely to be rebuilt. ESO also predicts that there will be residual availability for electricity generation in Bulgaria between 9.6 mln MWh and 18.3 mln MWh annually , which means that about 27% of the available capacities will be unutilised.
Source: Capital (19.08.2019)

Bulgaria receives 13 letters of interest in Belene nuclear station tender Bulgaria’s Energy Ministry said it has received letters of interest from 13 candidates in its tender to pick a strategic investor for the restart of the Belene nuclear power plant. Not all letters were from potential strategic investors, since as part of the process, the ministry also sought offers for minority stakes and from potential long-term electricity buyers. In total, seven candidates formally recorded their interest in becoming a strategic investor, including Rosatom, China National Nuclear Corporation and Korea Hydro&Nuclear Power. Four other parties were named as in the running for strategic investor, including one German-registered company and three Bulgarian-registered entities. French Framatome and General Electric both declared their interest in supplying equipment and participating in securing the funding for the project. The Republic of North Macedonia has lodged its interest in acquiring a minority stake and signing an electricity-purchasing agreement. A task force that will include representatives of state electric utility NEK, its parent company Bulgarian Energy Holding and grid operator ESO, would draft a shortlist of strategic investor candidates within 90 days.
Source: Sofia Globe (21.08.2019)

Bulgarian Electricity Trading Market Joins Single European Intraday Market The Bulgarian electricity trading market has joined the Single European Intraday Market, the Electricity System Operator (ESO) said. ESO Executive Director Angelin Tsachev and Independent Bulgarian Energy Exchange (IBEX) Executive Director Konstantin Konstantinov signed an agreement regulating the two companies' commitments arising from the accession of the Bulgarian electricity market to the Single European Intraday Market Coupling. Energy and Water Regulatory Commission Chair Ivan Ivanov attended the signing ceremony. The IBEX-operated intraday electricity trading market is joining the European market coupling across the Bulgarian-Romanian border. By the agreement, ESO and IBEX agree to cooperate in conducting implicit auctions for cross-border allocation of capacity and energy. ESO undertakes to coordinate interconnection exchanges for each delivery period with neighbouring transmission system operators. November 20, 2019 is the day of the first electricity supply within the market integration. Interconnection capacity is also available, allowing trade with all other market areas that are part of the Single European Intraday Market.
Source: BTA (21.11.2019)