Bulgaria’s Kozloduy NPP Doubled Profits in 8 Months – Former CEO

Energy | September 19, 2014, Friday // 17:49|  views

Bulgaria's Kozloduy nuclear power plant, photo by BGNES

Ivan Genov, former CEO of Bulgaria’s Kozloduy Nuclear Power Plant, has insisted that he leaves the N-plant in very good condition.

Genov was removed from office through a decision of the Bulgarian Energy Holding (BEH) on Thursday.

He was replaced by Dimitar Angelov.

Genov pointed out in an open letter on Friday that he and his team of employees had done everything possible to ensure the reliable and safe exploitation of the capacities of the N-plant, adding that there had been no unplanned halt of an N-plant unit or digression from the work schedule since the beginning of 2014.

He said that the planned annual overhaul of unit 5 of the Kozloduy NPP had been completed successfully in spring and the overhaul of unit 6 was being carried out according to schedule, stressing that the Kozloduy NPP would be ready to meet the increase in power consumption in the winter season.

Genov also pointed out an annual increase in power production by nearly 1 million MWh to 7.9 million MWh in the first half of 2014.

He boasted that electricity supplies of the Kozloduy NPP to the free market had also increased substantially over the same period, up by nearly 2 million MWh year-on-year, to a rate of 4.3 million MWh in H1, 2014.

Genov informed that the Kozloduy NPP had supplied a total of 5.9 million MWh of electricity to the free market in 2013, while the forecast for 2014 stood at 8 500 000 MWh, up by over 40%.

The former CEO of the Kozloduy NPP declared that revenues from sales of electricity in H1, 2013 had amounted to BGN 345 M and the N-plant had closed the six-month period at a loss of BGN 5.9 M.

He noted, however, that sales revenues had grown to BGN 415 M in H1, 2014 and the company had registered a profit of BGN 42.6 M.

Genov reminded that the profit of the Kozloduy NPP for the entire 2013 had amounted to BGN 42.1 M.

He also said that the profit of the Kozloduy NPP had reached BGN 84.5 M by end-August 2014.

He made clear that the amounts receivable of the Kozloduy NPP from the National Electric Company (NEK) had decreased to BGN 169.1 M in H1, 2014 from a rate of BGN 334.2 M in H1, 2013.

Genov explained that the efforts of the entire team of the Kozloduy NPP were focused exclusively on the essential project for the extension of the lives of units 5 and 6.

He specified that the program for unit 6 of the Kozloduy NPP was being coordinated with the Bulgarian Nuclear Regulatory Agency, while the program for unit 5 of the Kozloduy NPP had been coordinated with the watchdog and was being implemented according to schedule.

Genov warned that any delay in the implementation of the programs would pose a threat to the future of the two 1000-MW N-plant units.

He said that the modernization of unit 5 of the Kozloduy NPP had to be wrapped up over the next three years, while the upgrade of unit 6 of the N-plant had to be concluded by 2019.

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Tags: Kozloduy Nuclear Power Plant, N-Plant, Kozloduy NPP, Ivan Genov, Bulgarian Energy Holding, BEH


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