Bulgarian NEK and Austrian EVN agree on debt settlement
Austrian energy company EVN and the Bulgarian National Electricity Company (NEK) reached an agreement to settle a debt worth BGN 192 million (EUR 98,2 million). The settled amount remains unknown, but EVN said in a statement that the agreement will increase its net income by EUR 38 million in the second quarter of this year. […]
Greece, Cyprus and Egypt to be connected with underwater electric cable
Greece, Cyprus and Egypt signed a memorandum on the completion of a study for the construction of the EuroAfrica Interconnector, an underwater electric cable connecting the power grids of those countries with continental Europe. The 1.648 kilometer cable will be one of the longest in the world, with a capacity of 2.000 MW, and the […]
Danish DONG Energy to stop using coal by 2023
Danish company DONG Energy said it will entirely stop using coal by the year 2023. The company’s power stations will be replacing coal with sustainable biomass. “The future belongs to renewable energy sources, and therefore we’re now converting the last of our coal-fired power stations to sustainable biomass. The decision is in line with our […]
Nikolay Pavlov named Bulgarian minister of energy
Further liberalization of the electricity market and diversification of sources and routes of energy resources will be the main priorities of new Bulgarian minister of energy Nikolay Pavlov. Pavlov, who took over the position from Temenuzhka Petkova, said that the main purpose of his work will be to maintain the stability of the country and proper […]
Montenegro increased tariff for renewables and high-efficiency cogeneration
Montenegro increased the tariff subsidy for electricity from renewable energy sources and high efficiency cogeneration from 0,12 to 0,47 eurocents per kWh. The decision drew harsh criticism from the opposition and a part of the civil sector. According to the Montenegrin Ministry of economy, the biggest impact on the tariff comes from Krnovo wind park, […]
New affair for EPS due to mistake with December electricity bills
Elektroprivreda Srbije (EPS) fired eight managers over a mistake that resulted in higher electricity bills for December. Sequester, the company in charge of reading electricity meters, is to be penalized, management announces. So far EPS has received 1.880 complaints for miscalculated December bills, according to acting director Milorad Grčić. He considers that number negligible considering the total […]
Northern Cyprus ratifies energy agreement with Turkey
The unrecognized Turkish Republic of Northern Cyprus has ratified an agreement with Turkey on the construction of an underwater electrical cable. The protocol, which includes cooperation in electricity, oil, natural gas, and renewable energy, was voted on by the 50-member Assembly of Northern Cyprus. It was approved with votes of 39 MPs while four rejected […]
35% higher energy price for companies in Albania
More than 6,000 businesses in Albania will pay energy prices increased by 15% up to 35% when fees for the distribution service come into effect. According to Albanian media, Energy Regulatory Entity (ERE) has approved new distribution network tariffs. In addition to the regular price, businesses that are connected to 20 kV and 35 kV […]