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

bulgaria electricity prices subsidies energy crisis iran traycho traykov

Bulgaria plans scheme to subsidize electricity prices for businesses

01 April 2026 - On Bulgaria's power exchange, IBEX, the day-ahead price for April 2 reached EUR 136.6 per MWh, compared to EUR 67.5 per MWh on February 27

Siemens Energy to replace transformers at Romania's largest hydropower plant Iron Gate 1

Siemens Energy to replace transformers at Romania’s largest hydropower plant

01 April 2026 - Hidroelectrica picked Siemens Energy to supply seven transformers within the modernization of the Iron Gate 1 hydropower plant on the Danube

How to choose a BESS integrator for utility-scale solar projects

31 March 2026 - Solar developers need to consider four main factors when selecting the integrator for a battery energy storage system (BESS)

NGEN Group Austria Europe largest energy storage

NGEN Group breaks ground in Austria for one of Europe’s largest energy storage facilities

31 March 2026 - NGEN Austria has launched works on a two-hour BESS of 85 MW in Wagenham, set to become the biggest in the country and one of the biggest in Europe