TPP ContourGlobal Maritsa East 3 produced electricity for nearly half of Bulgarian homes TPP ContourGlobal Maritsa East 3 provided almost 12% of the total electricity produced in the country in 2021. This electricity is enough to cover the average annual needs of 1,235,000 households - almost half of the homes in Bulgaria. Following the modernization of the plant's desulfurization plants, the two key facilities now provide over 97% efficient flue gas cleaning. The plant invests over BGN 10 million in SOI. Thus, TPP ContourGlobal Maritza East 3 fully meets the new, stricter environmental requirements of the EU, which entered into force in August 2021. It has been certified for years by two international standards - ISO 14001: 2015, related to environmental protection environment as well as ISO 45001: 2018 (OHSAS), which deals with health and safety at work, and already reports over 15 million man-hours of work without accidents.
Source: Other (14.01.2022)

Ecological TPP for BGN 35 million is being built by Svilosa - Svishtov An ecological thermal power plant, using natural gas and wood, is being built on the territory of the Svishtov-based enterprise Svilosa. The main fuel that will be used in energy production will be waste wood from the production of cellulose and biomass from agricultural products, said the executive director Eng. Mihail Kolchev. The plant will produce steam and electricity. The electric power is 16 MW hours, which will fully satisfy the needs of Svilosa. The surplus will be sold to NEK. The actual construction of the TPP started last year, and the construction should be completed by the end of 2022. The value of the investment is BGN 35 million. The funds are bank financing and own investments. The equipment has already been purchased and delivered from China. A second group of Chinese specialists has arrived to install the installation and train workers for the future plant. About 45 new jobs will be created after its completion. At the end of last year, recruitment began and workers have already been hired.
Source: Borba - Veliko Tarnovo (25.02.2022)

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)

ContourGlobal Maritsa East 3 plant generates 13% of Bulgaria's Q1 power output ContourGlobal Maritsa East 3 thermal power plant (TPP) generated over 13% of Bulgaria's total electricity production in the first three months of 2022. The electricity produced by the coal-fired power plant equals the average consumption of more than 1,400,000 Bulgarian households in the January-March period of this year, or half of the households in the country, ContourGlobal Maritsa East 3 said in a press release. The 908 MW power plant in southern Bulgaria is 73%-owned by London-listed power generation business ContourGlobal, with Bulgarian state-owned National Electricity Company holding the remaining 27% stake.
Source: SeeNews (19.04.2022)

An investor in BTC acquires an American TPP in Bulgaria The American investment company Kohlberg Kravis Roberts & Co (KKR) is the new owner of the ContourGlobal Maritza East 3 TPP, Reuters reported. In a USD 2.2 billion deal, KKR has acquired another US company, ContourGlobal, which has a majority stake in Bulgaria's power plant, with 27% owned by the National Power Company. The company's board has already approved the offer and recommends that shareholders support it. There was also agreement from Reservoir Capital Group - the largest shareholder with 71.4% in ContourGlobal. The deal will be implemented through Cretaceous Bidco, a London-based company, in late March 2022. KKR says it values ??ContourGlobal as a high-quality business backed by a balanced and geographically diversified electricity portfolio.
Source: 24 chasa (19.05.2022)

NEK's profit grew by almost 1500% in 2021, but 2022 began with a loss The National Electricity Company (NEK) ended 2021 with a record profit of BGN 688.6 million, compared to only BGN 43.3 million a year earlier. This is practically an increase of almost 1500%, and the main reason is the high prices on the free market, as the company is one of the largest producers of electricity with its hydropower plants. However, NEK's liabilities remain high - liabilities are still around BGN 4 billion. The good news is that there are no arrears. Several factors contribute to NEK's impressive profit - the high average price of electricity on the free market (BGN 194 / mWh) and hence the large revenue growth, as well as the increased revenues from balancing energy. For example, revenues from the sale of electricity increased by nearly 60% to BGN 2.3 billion. This includes revenues from sales on the free electricity market, which increased by 459% to BGN 985.9 million.
Source: Capital (26.05.2022)

EWRC: Electricity in the country rises by 3.3%, heating in Sofia - by 39% The Energy and Water Regulatory Commission (EWRC) has been proposing an average increase of 3.3% in household electricity since the beginning of July, according to a report published by the ministry for the next regulatory period July 1, 2022 - June 30, 2023. In order to minimize the increase for household consumers, the EWRC has applied regulatory mechanisms regarding the price mix for the regulated market. The share of electricity from Kozloduy NPP is increasing to 30%. The price of electricity from NEK's hydropower plants is decreasing. These measures make it possible to compensate for the increase in transmission costs of ESO and the three electricity distribution companies. 39.26 percent is the average increase in the price of heat energy from July 1, the EWRC predicts. For the household consumers of Toplofikacia Sofia the price will amount to BGN 136.82 / MWh, at the current price of BGN 98.48 / MWh, which is a change of 38.93%. This practically means that a consumer in Sofia with a bill of BGN 100 for heating will pay nearly BGN 139 in the new heating season 2022/2023. The regulator predicts the smallest increase of only 23.26% in Plovdiv, where from July 1, the subscribers of EVN Bulgaria Toplofikacia will pay BGN 122.80 / MWh, at the current price of BGN 99.55 / MWh. The price of Veolia Energy Varna changed by 30.66% and became BGN 128.43 / MWh, at the current price of BGN 98.29 / MWh. EWRC forecasts the biggest increase in the price of heat energy by 51.49 percent for the subscribers of the district heating company in Razgrad. There, consumers will pay BGN 152.94 / MW from July 1, instead of the current BGN 100.96. In the next regulatory period, the highest price of heat - BGN 156.44 / MW - will be paid by the subscribers of the district heating company in Veliko Tarnovo. The estimated increase in the price of the service in the Old Capital is 45.57% (see table). The main reasons for the proposed increase in heat prices are the fourfold increase in natural gas prices and the double increase in carbon emissions. In recent months, due to the war in Ukraine, the prices of natural gas for district heating have increased almost fourfold - from BGN 45 / MW to over BGN 160 / MW. During this period, heat prices for consumers remained unchanged, which led to increased costs for companies and the accumulation of deficits. In the new period, this deficit will be compensated, as otherwise companies could go bankrupt.
Source: Sega (30.05.2022)

Kozloduy NPP buys equipment from the Belene NPP site for BGN 8 million. National Electric Company (NEK) will be able to sell to Kozloduy NPP part of the available old equipment, which is located on the site of Belene NPP, it is clear from a decision of the Council of Ministers taken at today's meeting. The sale refers to filters, fans and other details that are essential for the implementation of the programs for extension of the life of Units 5 and 6 of Kozloduy NPP. The value of the equipment provided for sale is nearly BGN 8 million. The sale will be carried out through direct negotiations between the two companies. The possibility for such a transaction is regulated in the Regulations for implementation of the Public Enterprises Act. Its texts state that the starting price for the sale is determined by an independent appraiser, following a decision of the Council of Ministers. The implementation of the programs for extension of the operational life of Units 5 and 6 of Kozloduy NPP requires delivery of spare parts for repair or delivery of new equipment in order to maintain the facilities in good condition. Available on the site of Belene NPP The equipment is similar to the one designed and installed at Kozloduy NPP and allows their mutual replacement. The use of similar equipment from the Belene NPP site will save Kozloduy NPP time and costs for additional research and projects for adaptation to existing systems. .
Source: investor.bg (16.06.2022)

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)

NEK and Kozloduy NPP will work with Russian companies Kozloduy-EAD NPP and a National Electric Electric Company EAD will continue the implementation of public procurement contracts with Russian companies. This was made clear by a decision of the office of September 23. It has been taken after we have obtained permission from the European Commission. Thus, in reality, our country is excluded from the sanctions of the European Commission, which imposed restrictions on Russia over the war in Ukraine. The government has allowed permission to continue the work under 5 contracts, including the one for an advanced nuclear cycle of the Fifth and Sixth Unit of the Kozloduy NPP. The idea is to move in the long run to diversification of fuel supplies, but the government's decision states that & quot; the procedure for supplying fuel cartridges from an alternative supplier may not start before a thorough safety assessment is carried out and before the alternative fuel be licensed by the Nuclear Regulation Agency. A contract with the Russian Atomstroexport and Belene NPP will also be extended. It is for the implementation of a technical guide in the reconciling of equipment with a long production cycle for blocks 1 and 2 of Belene NPP. The activity can only be carried out by Atomstroexport, and with the compulsory participation of experts from the manufacturer - the Russian Zio -Podolsk, it is clear from the decision.
Source: Trud (27.09.2022)

The caretaker government has decided to extend the payment of compensation due to high electricity prices until the end of the year. This will cost nearly BGN 3.6 billion, which is provided by the excess profits of the state NPP "Kozloduy", NEK and TPP "Maritsa Iztok 2", and the aid will continue to be distributed "in a pinch", regardless of whether and how much the companies have suffered. The new term for the aid is from October 1 to December 31, 2022. All approximately 633 thousand companies will benefit from them, as well as the state-owned "Electricity System Operator" and the private electricity distribution companies "Electrohold", EVN and "Energo-Pro". , due to the non-recognition of their costs for network services in the price of electricity per household. All enterprises will be compensated in full for the difference between the real average monthly exchange price for base load of the "day-ahead" segment of the Bulgarian Independent Electricity Exchange for the relevant month and the base price of BGN 250/MWh. The operators of the electricity transmission and distribution networks will be compensated for the electricity , which they purchase for their technological costs. The maximum amount of compensation for them is calculated as the difference between the average monthly base load price of the "day-ahead" segment on the exchange and the estimated market price of BGN 421.08/MWh for the operator of the electricity transmission network determined by KEVR and BGN 446.78/MWh for operators of electricity distribution networks.
Source: mediapool.bg (29.09.2022)

The National Electric Company has successfully completed the rehabilitation of hydro unit (HA) No. 2 at PAVEC Belmeken after 72-hour tests in real operating conditions. The unit has a power generation capacity of 75 MW. At this moment, 4 out of 5 hydro units in PAVETS Belmeken have been successfully rehabilitated, the last hydro unit is yet to be rehabilitated. The available power of the "Belmeken-Sestrimo-Momina gorge" cascade for the autumn-winter season will be at its full capacity of 735 MW, with which NEK EAD will guarantee security of supply and reliable operation of the electricity system. At the moment, the rehabilitation of 7 of the 9 hydro units from the cascade has been completely completed. With its 31 HPPs and PAVECs with an installed capacity of 2737 MW in turbine mode and 931 MW in pump mode, NEK is the largest producer of energy from renewable sources in the country.
Source: 3e-news (09.11.2022)

PAVETS "Belmeken" has already been modernized, 7 out of 9 units have been successfully rehabilitated The pumped-storage hydroelectric plant "Belmeken" has already rehabilitated 4 out of 5 hydro units. On November 5, the repair of hydrounit No. 2 was completed, it also passed 72-hour tests in real operating conditions, NEK reports. Noah has a power of 75 megawatts. The repair of the last machine remains. The available power of the "Belmeken-Sestrimo-Momina gorge" cascade for the autumn-winter season will operate at full capacity of 735 megawatts, with which NEK guarantees the security of electricity supplies and reliable operation of the power system. At the moment, the rehabilitation of 7 of the 9 hydro units from the cascade has been completely completed. In its capacity as a public supplier, NEK guarantees, first of all, the security of electricity supplies for customers of final suppliers and participates in providing the reserve for regulating the electricity system. The company also trades on the open market, using all BNEB platforms.
Source: 24 chasa (09.11.2022)

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)

NEK and five private companies were fined for stock market manipulation The Commission for Energy and Water Regulation (KEVR) has fined six energy companies for their manipulation of the electricity market in the first half of 2019. Among them is the state-owned "National Electricity Company" (NEK), which carries the largest fine. The total penalty is BGN 1,258 million. Of these, BGN 625,000 was imposed on NEK, Interprom was BGN 336,000, Energy MT was nearly BGN 145,000, and Interelectric was fined over BGN 90,000. Most Energy is fined BGN 34,000. The Hristo Kovachki-related company "Grand Energy Distribution" will have to pay over BGN 27,000. KEVR sent a report to the Sofia City Prosecutor's Office . This is the first decision of the energy regulator to sanction abuses on the electricity exchange. the commission has been working on such reports since 2020. They were submitted mainly by the Bulgarian Federation of Industrial Energy Consumers and employers' organizations.
Source: mediapool.bg (30.11.2022)

The energy crisis and its own hydropower plants may raise the credit rating of NEC The energy crisis, which led to the increase in electricity prices, has seriously stabilized the financial situation of the state-owned "National Electric Company" (NEK). The company is already clearing part of its huge debts, the outlook for it has been raised to positive, and in the next 6 to 12 months its credit rating may be raised, according to an assessment by the international rating agency Standard & Poor's. With it, NEK's outlook was raised to positive and its long-term credit rating of BB- was confirmed. S&P reports a significant improvement in the credit status of NEK, which is expressed in increased business results and reduced credit exposure. At the same time, NEK's low-carbon production is of key importance for the company's role in the energy transition and its excellent positioning in the sector, the assessment states. 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 BEH and to a reduction in the company's level of indebtedness.
Source: mediapool.bg (14.12.2022)

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)