Bulgaria, TPP Maritsa East 2 recorded a net profit in the amount of 390 million euros in the first nine months of 2022

, SEE Energy News

State-owned coal-fired thermal power plant Maritsa East 2 recorded a net profit in the amount of 390 million euros in the first nine months of 2022, compared to a loss of 93 million euros in the same period last year.

The statement from the company said that good financial result is due to increased electricity production in 2022 as well as significantly higher electricity prices. The company’s total revenues rose to 1.41 billion euros in the first nine months of the year, compared to 303.5 million euros in the same period in 2021.

The majority of revenues was generated by electricity sales on the free market, including sales on the Independent Bulgarian Energy Exchange (IBEX). Electricity sales amounted to 6.18 TWh in the January-September 2022 period, compared to last year’s 2.7 TWh.

The plant’s total expenses also rose, but at much lower rate – reaching around 1 billion euros, compared to 383 million euros in the first nine months of 2021. Of the total sum, expenses for CO2 emission allowance amounted to 663 million euros in comparison to last year’s 208.5 million euros.

In 2022, TPP Maritsa East 2 operated all of its eight coal-fired units with total installed capacity of 1,620 MW.