Energy Ministry

Greece is close to concluding a spin-off of its power grid operator ADMIE from state-controlled power utility PPC, the Energy Ministry said on Friday.

The move, a key term of the country's international bailout, will boost PPC's cash reserves by about 700 million euros in May, the ministry said in a statement.

The collection of concession revenues by the Energy Ministry in the first three months of 2017 improved by 23% compared with 2016, the ministry reported on Thursday, quoted by BNR.

Between January and March 2017, the ministry collected BGN 27,685,218 in concession revenues, accounting for 81.43% of the annual target.

This compares with 58.4% collected in January-March 2016.

The Turkish-Korean Kalyon-Hanwha consortium on March 20 won the tender bid for the construction of Turkey's biggest solar power plant set to be built in the Central Anatolian province of Konya's Karapınar district, with an estimated investment volume of $1.3 billion. 

Bulgaria has seven weeks in which to express an opinion on the measures via which Gazprom promised the European Commission on Monday to adhere to the rules on competition in the EU, announced the press centre of the Energy Ministry.

Prime Minister Ognyan Gerdzhikov presented on Friday the results of the inspections of the ministries which he ordered at the first meeting of the caretaker cabinet.

The PM ordered the preparation of analytical reports on the state of the ministries with an emphasis on public procurement orders and steps to be taken in order to deal with possible violations.

Electricity exports from Bulgaria to neighbouring countries will continue as of 01:00 local time (EET) on February 09, the Energy Ministry says.

The flow of electricity abroad was brought to a halt on January 13 amid low temperatures that had put a strain on the electricity grid of the country.

The head of the power grid company on Istanbul's European side has stepped aside, following a series of huge electricity cuts. 

Mehmet İslamoğlu, the general manager of BEDAŞ, has been replaced by Murat Yiğit, the head of AEDAŞ, another power grid company in the Mediterranean region. 

Shareholders of Greece's electricity utility Public Power Corporation (PPC) approved late on Tuesday the transfer of a 51 percent stake in the power grid operator ADMIE, part of a spin-off scheme, which is a major term in Greece's bailout program.

Bulgaria will halt the exports of electricity as of 01:00 (EET) on Friday, the Energy Ministry says.

Authorities have cited severe weather conditions boosting electricity consumption across the country.

Exports are therefore halted until the energy system is brought back to a balance, the ministry says.

The Energy Ministry on Tuesday urged citizens to make prudent use of electricity as a cold snap has put a strain on production units.