Bulgarian Energy Holding

As a consequence of the recent cold spell gripping Bulgaria, the nation experienced a notable shift in its energy dynamics, emerging as a net importer of electricity on January 9. Despite possessing ample capacity, Bulgaria's electricity production struggles to compete in the market, leading to increased reliance on neighboring countries.

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz.

All necessary quantities of natural gas for the operation of "Toplofikatsia Sofia" (Heating Systems Sofia) will be provided. A contract has already been signed between the district heating company and Bulgargaz.

This became clear after a meeting between the Acting Minister of Energy Rosen Hristov and the Chairman of the Sofia Municipal Council Georgi Georgiev.

"Toplofikatsia Sofia (Heating Systems Sofia) owes BGN 399 million to Bulgargaz," Denitsa Zlateva, executive director of Bulgargaz, announced on BNT.

She reminded that "Bulgargaz" cannot by law stop the supply of gas to heating companies and will seek new loans from the Ministry of Energy.

Today, Bulgargaz received a notification that natural gas supplies from Gazprom Export will be suspended as of April 27.

"The Bulgarian side has fully fulfilled its obligations and has made all payments required under this agreement, in a timely manner, strictly and in accordance with its clauses," the energy ministry said tonight.

The department also states:

The entire management of Bulgargaz has been replaced following a decision by the Bulgarian Energy Holding, BNR reports.

Lyudmil Yotsov has been elected executive director of the company - in place of Nikolay Pavlov, according to a protocol of BEH, published in the Commercial Register.

While some are losing out on rising electricity prices, others, such as electricity producers, are gaining. This is most clearly seen at "Kozloduy" Nuclear Power Plant, whose production costs are relatively low and constant (due to the long-paid investment in the plant), and the energy it sells on the stock exchange has risen sharply in recent months.

Employers are starting a phasing out of production facilities, as of 00.00 am on August 4, 2021 and remain on alert. This is stated in a declaration of the Association of Bulgarian Employers' Organizations (AOBR).

Energy Minister Andrei Zhivkov asked the Bulgarian Energy Holding (BEH) to remove the management of Bulgartransgaz after an inquiry by the Energy and Water Regulatory Commission (EWRC) confirmed Energy Ministry conclusions about ineffective management of the natural gas transmission company.

Bulgarian power generation industry is switching over to a "green mode" of operation. This is the conclusion based on the recent amendments to the Recovery and Resilience Plan that 3eNews has been able to obtain. The draft document shows that serious investments will be made in the subsidiary of TPP Maritza East 2, responsible for the new energy generating capacities.