Power Price Hike to Inject BGN 200 M into State-Owned Eclectic Co

Energy | September 23, 2014, Tuesday // 14:41|  views

Photo by BGNES

A power price hike will help inject slightly over BGN 200 M into the National Electric Company (NEK), while its losses are expected to reach BGN 1 B over the next year, according to Bulgaria’s caretaker Minister of Economy and Energy.

Vasil Shtonov, as cited by investor.bg, explained that the planned increase in electricity prices as of October 1 was part of the strategy of Bulgaria’s caretaker government for the stabilization of the energy sector.

He specified that the change of CEO of the Kozloduy Nuclear Power Plant had also been part of the measures aimed at boosting the efficiency of the management of the energy sector.

Shtonov expressed his appreciation of the achievements of its former CEO, Ivan Genov, stressing that the N-plant had needed a new person for the next stage of governance.

Bulgaria’s caretaker Minister of Economy and Energy informed that the authorities were also working on an analysis of the management of state-owned energy companies to identify necessary changes.

He underscored the need for a new approach in order to make better use of the available resources.

Shtonov also drew attention to the importance of the projects for the extension of the lives of units 5 and 6 of the Kozloduy NPP and the need to optimize tenders for the sale of electricity produced by the NPP.

He refused to comment on forthcoming senior-level reshuffles at state-owned companies, including NEK.

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Tags: National Electric Company, NEK, electricity prices, Kozloduy Nuclear Power Plant, Kozloduy NPP, Vasil Shtonov, Minister of Economy and Energy, caretaker government


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