Bulgarian Energy Holding increased profit in 2019

, SEE Energy News

Compared to a net loss of 134 million euros recorded in the previous year, State-owned Bulgarian Energy Holding (BEH) said that it has recorded consolidated net profit in the amount of some 204 million euros in 2018.

According to unaudited financial report, BEH’s total revenues dropped by 2.69 % to 3.43 billion euros in 2019. However, the holding’s expenditures were significantly lower without some one-off items which burdened the 2018 financial result, such as the European Commission’s 77.1 million euros fine to Bulgargaz and Bulgartransgaz and NEK’ lost arbitration with WorleyParsons worth 31.2 million euros. Several energy companies operate within BEH such as the National Electricity Company (NEK), thermal power plant Maritsa East 2, nuclear power plant Kozloduy, electricity transmission system operator ESO, gas company Bulgargaz and natural gas transmission system operator Bulgartransgaz.