CEO of Bulgaria’s Kozloduy N-Plant Decries Impact of Power Tariffs Uncertainty

Dimitar Angelov, CEO of Bulgaria’s Kozloduy nuclear power plant, has complained that the N-plant lost long-term contracts for the sale of electricity as a result of the postponement of the new regulatory period.

Angelov told the Bulgarian National Radio that the National Electric Company (NEK) had started delaying debt payments and the installments no longer matched the amounts stipulated in the debt settlement plan agreed by the two companies.

Angelov underscored that long-term agreements were being avoided, with customers seeking deals with a time frame of up to 3 days as they were uncertain about the conditions in the new period.

The CEO of the Kozloduy NPP said that the crisis in Greece had also affected sales of electricity, causing problems at Bulgaria’s national power utility and an ensuing deterioration in debt payments to the Kozloduy NPP over the past month.

New electricity prices were supposed to take effect on July 1, with household prices going up by around 2% and prices for industrial consumers increasing by 4-20%.

The Commission for Energy and Water Regulation postponed by one month the entry into force of the new tariffs amid protests of industrial energy consumers.

The postponement is to provide the authorities with sufficient time to adopt measures to alleviate the power price spike.

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