French GDF Suez Set to Enter Bulgarian Energy Market

The DKEVR Head Angel Semerdzhiev believes the arrival of the French GDF Suez on the Bulgarian market is very timely. Photo by BGNES

The Romanian affiliate of the French electricity generation and distribution company Gas de France Suez (GDF Suez) has submitted an application for a license in Bulgaria.

The news was reported during the Tuesday meeting of Bulgaria's National Electric Company (NEK).

GDF Suez report they want to enter the Bulgarian market now because there are signs of recovery, but do not plan to sell electricity inside the country rather purchase electric power from local producers and offer it in Romania, Greece and Turkey.

The trade would be carried out through the newly registered company GDF Suez Energy Trading Bulgaria with headquarters in Bucharest, according to a report of Bulgaria's State Commission for Energy and Water Regulation (DKEVR).

GDF Suez had presented its business development plan until 2014 to DKEVR, including electric power prices, but the energy watchdog had voiced some doubt because the latter were seemingly too low.

“These are not electricity prices in Bulgaria, these are stock prices from forward deals in Germany, which is our determining market,” GFD Suez point out.

A total of 27 companies have a license to trade electric power in Bulgaria, according to DKEVR registry. More than half of them have received their permits in 2007 with an expiration date of 2017.

“The rules for the sale of electricity in the region are too diverse and are currently in the process of becoming unified. For this reason the arrival of GDF Suez on the Bulgarian market is very timely,” the DKEVR Head, Angel Semerdzhiev, is quoted saying.

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