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

Hellenic Hydrogen wins European Hydrogen Bank grant with lowest bid

Hellenic Hydrogen wins European Hydrogen Bank grant with lowest bid

08 May 2026 - The European Hydrogen Bank (EHB) approved EUR 1.09 billion in the third auction. A Greek JV won with the lowest bid in the general category.

croatia cropex koer ante mikulic ceo

CROPEX CEO leaves power exchange to join aggregator KOER

08 May 2026 - A similar move – transitioning from a high-ranking position in the public sector to a private company – recently took place in Slovenia as well

electricity meter ppc energie romania zero cost

PPC Energie rolls out Romania’s first zero-cost electricity scheme

08 May 2026 - Power supplier PPC Energie has launched a pilot project offering free electricity during certain hours of the day to customers with smart meters

europe western balkans eurostat electricity prices households 2025 ppc

Electricity prices: Ireland leads Europe, Serbia tops Western Balkan ranking

08 May 2026 - Ireland reported the highest average price of electricity for households in Europe in the second half of 2025 - 40.4 eurocents