Renewables

Phantom energy companies drain government funds

Published

July 31, 2015

Country

Comments

comments icon

0

Share

Published:

July 31, 2015

Country:

Comments:

comments icon

0

Share

Thermal power plant operators AES and ContourGlobal, alongside renewable energy sources, will remain the primary sources in the energy mix of Bulgaria, a recent document shows.

The latest pricing changes show that AES’s Maritsa Iztok-1 and ContourGlobal’s Maritsa Iztok-3 set their share in the system at 20% and 25.2%, respectively, 3e-news.net reported. Meanwhile, according to an article by Standart News, much of the money from electricity bills is sinking into the pockets of the energy mafia, data in the report of a temporary committee on the topic show.

Renewables, the most expensive energy, which had preferential status for years, form 18.8% of the mix, news agency Novinite said in a report. State-owned Maritsa Iztok-2 thermal power plant and nuclear turbines at Kozloduy have seen a substantial decrease in their respective shares, now at 4.1% and 6.7%.

This comes, however, just after the government had explained it would take Maritsa Iztok 2 out of the regulated market. The rest is generated by heating utilities 16.3% and the hydropower plant owned by the National Electricity Company (NEK),  8.75%.

The state buys electricity at preferential prices of four photovoltaic plants, which do not exist at all and as such never received permission to operate, the article said. Another five were selling electricity for months before obtaining a permit to operate, the portal claims, citing the temporary committee’s document.

Related Articles

DNV acquire Automa Power Utilities digital operations energy

DNV to acquire Automa Power & Utilities, strengthening position as global end-to-end digital operations partner for energy industry

14 January 2026 - DNV agreed to acquire Brazil-based Automa, provider of integrated monitoring, control, and performance management solutions

montenegro epcg masdar agreement spajic djukanovic

EPCG, Masdar sign cooperation agreement

14 January 2026 - Montenegro’s power utility EPCG and UAE-based Masdar today signed a cooperation agreement as part of Abu Dhabi Sustainability Week

bih republic of srpska trebinje wind farm leotar Zhogbo Group

Zhongbo Group advances in preparation for construction of Leotar wind park

14 January 2026 - It would be the largest wind power plant in the Western Balkans by capacity and one of the largest in Southeast Europe

Montenegro renew first solar power auction call as soon as possible

Montenegro to renew first solar power auction call as soon as possible

14 January 2026 - Montenegro has disqualified all bidders in its first solar power auction and vowed to urgently remove procedural shortcomings and renew the call