Bulgarian electricity transmission system operator ESO recorded a net profit in the amount of 44.7 million euros in the first nine months of 2022, more than doubled compared to a profit of 20.2 million euros in the same period last year.
The company’s total revenues increased to 664 million euros in the January-September 2022 period from 267 million euros a year earlier.
The company’s costs in the balancing market rose to 255.5 million euros from last year’s 44.5 million euros, while its electricity transmission costs doubled to 166.5 million euros.
According to a draft ten-year development plan of the Bulgarian electricity transmission system operator ESO, Bulgaria is planning to invest around 950 million euros in electricity network upgrades in the next ten years, with over a third of the amount invested in the first three years of a ten-year period.
The plan envisages investments of 92 million euros in 2022, followed by investments of 102 million euros in 2023 and 2024 each. The funds will be invested in the expansion of electricity transmission network, as well as in reconstruction of the existing network.