Bulgaria: Bill for termination of contracts between US owned Maritsa TPPs and NEK, SEE Energy News
Patriotic Front which is the Parliamentary group requested by the law that Bulgarian government terminate contracts with US power plants in Maritsa coal basin.
Under the name of the ’’Law on early termination of the contract’’ for the production of electricity, group representative Valeri Simeonov provides solution principles, rules and procedures to cover the expenses that will arise in the event of early termination of long-term contracts for the delivery of electricity energy. He is actually offering this delivery to be regarded as cold reserve ,the bill has already been published on the website of the Parlament.
The bill aims to create fair conditions for obtaining and termination of contraction.
To remind, Bulgaria have contracts with US owned thermal power plants Maritsa East 1 and Contour Global Maritsa East 3.
Within 150 days from the entry into force of the law, the parties to the long-term contracts will be able to conclude agreements on early termination of the contract.
If there is an early contract termination with American thermal power plants, electric power industry of Bulgaria (NEK) will save about 500 milion euro. It should be mentioned that the European Union is against these American power plants benefits. But the European Commission declares to be against the contract termination until the European Union takes adequate measures. , transmits Serbia-energy.eu