Bulgaria: Losses of Bulgarian Electric Power Industry & Contour Global

, SEE Energy News

The losses of the Bulgarian Electric Power Industry NEK amount to about 1.7 billion EUR, while current loss, recorded in 2014th, amounted to 306 MEUR, announced the Bulgarian Ministry of Economy.

It is pointed out in the official statement that some of these debts are related to the contract by which NEK is obliged to redeem energy from two thermal power plants in the mining and energy complex “Marica Istok” at a higher rate than the market price.

Power plants are owned by US Company “ContourGlobal” and AES, with which the Bulgarian Government has long talks about changing the tariff of electricity purchase, and negotiations of both sides are trying to protect their interests.