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From Bulgaria
27.04.2016 16:57
© Bulgarian Ministry of Energy
The state-run Bulgarian Energy Holding (BEH) has achieved consolidated earnings of nearly BGN 30 m (about EUR 15 m) for 2015. This was reported as a stable improvement by the Bulgarian Ministry of Energy. Energy minister Temenuzhka Petkova said that in 2014 BEH had a loss of BGN 277.4 m.
Out of nine subsidiaries, four have ended 2015 at a loss, with the National Electricity Company reporting the biggest loss – BGN 196.7 m (about EUR 97 m). This nevertheless is better than 2014, when the public electricity supplier incurred a loss of BGN 390 m. Maritsa East 2 TPP has continued on a downward tendency in 2015, doubling its loss to BGN 72 m. This was mainly due to the BGN 120 m the power plant paid for CO2 emissions, minister Petkova said.
Gas transport grid operator Bulgartransgaz has reported earnings of BGN 93.1 m, followed by Kozloduy NPP with BGN 82.4 m and transmission system operator ESO with BGN 63.1 m. The latter has made a singular record, increasing its earnings with 221%.
Gas supplier Bulgargaz has reached a BGN 20.3 m-earning, while Maritsa East Mines scored merely BGN 2.6 m, after a year plagued by liquidity issues. Minister Petkova said that these would be alleviated with the EUR 535-m loan BEH obtained from JP Morgan Securities, Banca IMI and Bank of China.
The youngest BEH subsidiary – the Independent Bulgarian Energy Exchange (IBEX), has reported a loss in 2015, but it was due to massive investments in a bilateral contract power trading platform which is to be operational in mid-2016 and an intraday trading platform planned for 2017.
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