News

From Bulgaria Bookmark and Share

28.04.2016 11:52
AES Galabovo TPP Decreased Its Capacity Price as Settled with NEK
TPP AES Galabovo paid BGN 99 m to Maritza East Mines, the plant’s coal supplier
AUTHOR: publics.bg


  • © AES Galabovo

TPP AES Galabovo announced that it has decreased its tariff, as agreed upon in the amendment to TPP AES Galabovo’s Power Purchase Agreement (PPA) with the state-run National Electricity Company (NEK) signed in 2015. The new capacity price reduction of 14% became effective on April 27, 2016, leading to BGN 50 m (about EUR 25 m) annual savings, or more than BGN 500 m for NEK for the remaining term of the PPA, which expires in 2026.

What is more, TPP AES Galabovo paid BGN 99 m to Maritza East Mines, the plant’s coal supplier. The 690-megawatt plant is using only local fuel and is among the biggest consumers of lignite produced by Maritsa East Mines. The payment of the amount, accumulated as a result of the delayed payments to TPP AES Galabovo, will secure the investment program of the mines and will guarantee the employment of thousands of Bulgarian miners.

The decrease of the capacity price and the payment of the due amount to the mines became possible as a result of the full payment of the arrears of NEK towards TPP AES Galabovo.

“I am happy to announce that our partner, NEK, paid all its arrears. This is the final step of the process of renegotiation of the PPA. The amended PPA brings direct benefits to the Bulgarian people and contributes to the efforts of the Government to restructure the energy sector”, said the Executive Director of AES Bulgaria Olivier Marquette.

“The Government of Bulgaria has made important progress to sustainably strengthen the energy sector and lower electricity prices for consumers”, said Andrés Gluski, AES President and Chief Executive Officer. “TPP AES Galabovo is one of the most reliable and cleanest coal-fired plants in Europe, using only domestically sourced fuel.  By meeting all of its contractual obligations, Bulgaria is sending a very positive sign to all foreign investors in the country”, Gluski added.


TAGS: AES | Galabovo | TPP | NEK | Bulgaria | payment | National Electricity Company 


All news from Bulgaria

No published comments
Login to comment


Interview

17.09.2020  Boyana Achovski, General Secretary of the international organization Gas Infrastructure
In both short and long term, gas will continue being part of the energy mix of Southeastern Europe
Full text

Events

No records in this category!

Poll

publics.bg asks: What will you use to heat your homes this winter?









 



We use cookies to ensure we give you the best browsing experience on our website. Find out more on how we use cookies and how you can change your settings.

Cookies

What are cookies ?

A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

How do we use cookies?

Website use Google Analytics, a web analytics service provided by Google, Inc. ("Google") to help analyse the use of this website. For this purpose, Google Analytics uses"cookies", which are text files placed on your computer.

The information generated by the cookies about your use of this website - standard internet log information (including your IP address) and visitor behaviour information in an anonymous form - will be transmitted to and stored by Google including on servers in the United States. Google will anonymize the information sent by removing the last octet of your IP address prior to its storage.

According to Google Analytics terms of service, Google will use this information for the purpose of evaluating your use of the website and compiling reports on website activity.

We not use, and not allow any third party to use the statistical analytics tool to track or to collect any personally identifiable information of visitors to this site. Google may transfer the information collected by Google Analytics to third parties where required to do so by law, or where such third parties process the information on Google`s behalf.

According to Google Analytics terms of service, Google will not associate your IP address with any other data held by Google.

You may refuse the use of Google Analytics cookies by downloading and installing Google Analytics Opt-out Browser Add-on. The add-on communicates with the Google Analytics JavaScript (ga.js) to indicate that information about the website visit should not be sent to Google Analytics.

Cookies are also used to record if you have agreed (or not) to our use of cookies on this site, so that you are not asked the question every time you visit the site.

Google Analytics Opt-out Browser Add-on

How to control cookies?

You can control and/or delete cookies as you wish. You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed.

All about cookies

Managing cookies in your browser

Most browsers allow you to:
  • see what cookies you have got and delete them on an individual basis
  • block third party cookies
  • block cookies from particular sites
  • block all cookies from being set
  • delete all cookies when you close your browser

If you chose to delete cookies, you should be aware that any preferences will be lost. Also, if you block cookies completely many websites (including ours) will not work properly and webcasts will not work at all. For these reasons, we do not recommend turning cookies off when using our webcasting services.
X