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03.11.2014 15:01
Varna TPP Modernisation Not Feasible in Liberalised Electricity Market Mode
CEZ and the Bulgarian Energy Holding have hit aa dead-end in their efforts to forge a plan for the plant's modernisation, given it should start operating entirely on the liberalised market

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The current conditions on the regional power market do not allow forging a reliable business model allowing for the modernization of Varna TPP. This is the main conclusion of the joint work group of Czech company CEZ, owner of the power plant situated in Northeastern Bulgaria, and the Bulgarian Energy Holding (BEH). The two have been working for nearly half a year in order to come up with a solution, so that Varna TPP could continue operating after December 2014 when it is bound to close due to environmental reasons.

It seems that the negotiations have hit a dead-end at this point. CEZ and BEH agreed that due to the current market prices, combined with the price of coal and CO2 emissions, Varna TPP will not be competitive, thus financing the upgrade of its operating units 4, 5 and 6 will be rendered practically impossible.

CEZ said it is open to other suggestions by concerned parties and is also envisaging leasing or selling the power plant. 

With gas supply from Russia to Europe having been guaranteed for the upcoming winter, the option for Varna TPP to cover energy shortages as the one in 2009, becomes even thinner.

TAGS: Varna | thermal power station | CEZ | Bulgaria | energy | Bulgarian Energy Holding | BEH 

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