Bulgaria, TPP Maritsa East 2 in February and March 2022 are by 25 % higher

, SEE Energy News

The revenues recorded by state-owned coal-fired thermal power plant Maritsa East 2 in February and March 2022 are by 25 % higher than revenues recorded in the entire 2020.

TPP Maritsa East 2 continues to sell electricity on IBEX, with three new auctions for delivery in May, the third and fourth quarter of this year, being realized at the end of March. Average prices ranged from 213 to 217 euros/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 baseload electricity. The revenues 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, HSE and Energy Denmark. At the auction for May, the buyer again was TPP Varna, which has been actively involved in sales and purchases on IBEX in recent weeks.

Therefore, in just two months, TPP Maritsa East 2 has already exceeded by 25 % its annual revenue in 2020. With an average sales price of about 215 euros/MWh and production costs of about 135 euros/MWh, it can be concluded that the profit of the state-owned power plant on average is 80 euros/MWh or some 100 million euros in just two months.