NEK Expects Additional BGN 1 B Deficit

Bulgaria's National Electricity Company (NEK) expects additional BGN 1 B deficit for the current regulation period, said the company's Ventsislav Markov at a session of the energy watchdog DKEVR.

“We expect another BGN 1 B deficit for this regulation period,” said Markov and added that even if DKEVR approves the 10% price hike of electricity from October 1, it would compensate only BGN 140 M of NEK's deficit.

The DKEVR head Svetla Todorova said that if the price hike was not enough to stabilise the financial situation of NEK, the watchdog was willing to take other measures, including renegotiating conditions with the thermal and renewable sources power plants.

Representatives of the EDCs, who were also present at the meeting, complained that DKEVR did not accept their full technological expenses and this was posing difficulties for them.

DKEVR will make its final decision on the electricity prices for the last trimester of 2014 at a closed session on September 30.

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