Bulgaria, TPP Marica East 2 exceeds annual revenue in two months, SEE Energy News
The company’s revenues in February and March amounted to 400 million euros – 25% more than the sweep for the whole of 2020.
Bulgaria’s Marica East 2 state-owned thermal power plant continues to sell electricity on the IBEX stock exchange. Three new auctions for delivery in May, ie in the third and fourth quarters of this year, were realized on March 25. Average prices ranged from 213 to 217 euros per MWh, which is a slightly higher level compared to transactions realized a few days earlier.
Despite the higher prices, almost the total offered quantities were sold – a total of 200 MW of base power. The realized income amounts to 92 million euros, which means that the value of transactions reached about 317 million euros in March, and about 82 million euros in February.
The buyers are local market participants Axpo Bulgaria, Energy Trading System, Energo-pro, as well as foreign companies such as Danish Commodities, Holding Slovenske elektrarne and Energy Denmark. At the auction for May, the buyer again was TPP Varna, which has been actively involved in sales and purchases on the energy exchange in recent weeks.
Thus, in just two months, TPP Marica Istok 2 has already exceeded by 25% its annual revenue in 2020. With an average sales price of about 215 euros per MWh and production costs of about 135 euros per MWh, it can be concluded that the profit of the state power plant is 80 euros per MWh. That means a profit of over 100 million euros in just two months.
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