Coal-fired thermal power plant Maritsa East 2 recorded a net profit of 65.5 million euros in the first half of 2023, compared to a profit of 138 million euros in the same period in 2022. At the same time, total revenues dropped to 477 million euros compared to 510 million euros.
Revenues from the sale of electricity on the free market reached 454 million euros, a decline from 888 million euros in the first half of 2022, although last year’s record revenue was the result of energy price spikes.
The total operating expenses dropped to 404 million euros from some 650 million euros a year ago. The plant’s greenhouse gas emission costs stood at 217 million euros at the end of June, down from 463.5 million euros in the same period in 2022.
In the first half of 2023, a trend of lowering electricity prices in the country and the region, combined with the maintenance of high prices for greenhouse gas emissions quotas, severely limits the possibilities of TPP Maritsa East 2 to realize its production at prices that cover full costs and ensure a normal rate of return.