Major Reshuffles Hit Bulgaria’s N-Plant, Energy Holding

Energy | June 26, 2013, Wednesday // 12:47|  views

Kozloduy is the only nuclear power plant in Bulgaria. Photo by BGNES

Bulgaria’s state energy holding company, which groups the country's top energy assets, including its sole nuclear power plant Kozloduy, has seen a new wave of reshuffles, it emerged on Wednesday.

The Board of Directors of the Bulgarian Energy Holding Ltd. released Borislav Borisov from the Board of Directors of the National Electricity Transmission Company. He will be replaced by Sava Savov.

Major changes have also been made in the management of the country’s sole nuclear power plant Kozloduy.

Valentin Nikolov, Teodor Shopov and Valentin Gruev were released from the Board of Directors, to be replaced by Ivan Genov, Aleksandar Nikolov and Georgi Hristozov.

The Executive Director of the mining company Mini Maritsa Iztok Ltd. Teodor Drebov and its member of the Board of Directors Dimo Dimov have also been released.

The newly elected members in Mini Maritsa Iztok Ltd. Board of Directors are Stanimir Kazlachev and Shteryo Shterev.

There is also a change in the line-up of Maritsa East 2 Board of Directors. Georgi Hristozov was released and replaced by Mihail Mitkov.

Kozloduy is the only nuclear power plant in Bulgaria and the largest electricity producer in the country, providing more than one third of the national electricity output annually. The company is entirely state-owned and a subsidiary of the Bulgarian Energy Holding.

It has raised safety concerns, and the country agreed to shut four of its reactors as a condition of joining the European Union.

Under that treaty, Kozloduy was to be decommissioned by 2009, but the work was not completed on time. Bulgaria therefore asked that the EU funding be extended until 2013, to allow it to be completed safely.

BEH was incorporated in 2008 with a decision of the Socialist-led government.

BEH EAD is a shareholding company with 100% state owned participation. The Holding includes Mini Maritsa Iztok EAD, Maritsa East 2 TPP EAD, Kozloduy NPP EAD, NEK EAD, Electricity System Operator EAD, Bulgargaz EAD, Bulgartransgaz EAD and Bulgartel EAD.

All companies, brought together in the holding structure, preserve their operational independence and licenses, as they are all owned and directly subordinated to the corporate center BEH EAD.

The Bulgarian Energy Holding EAD is one of the largest companies in the region, and national energy leader.

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Tags: Bulgaria, energy, Holding, Kozloduy, Nuclear Power Plant, assault, European Union, electricity, energy


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