Bulgaria: the drive for full liberalization of the energy market and the upcoming changes
Authors: Dimitar Zwiatkow (Partner), Maria Harizanova (Associate), at Pavlov and Partners Law Firm in cooperation with CMS Reich-Rohrwig Hainz Rechtsanwälte GmbH The electricity market in Bulgaria is undergoing certain major changes, including the introduction of new rules for renewable energy producers, the abolition of the electricity export tariff, and market coupling projects, which will also affect the […]
Massive hike in electricity prices prompts state measures in Bulgaria
Three subsidiaries of state-owned power utility Bulgarian Energy Holding EAD (BEH) will provide an additional amount of electricity on the day-ahead market (DAM) of the Independent Bulgarian Energy Exchange (IBEX) in order to stabilize the market. According to local media, the DAM prices increased 50% in December 2018 compared to December 2017, skyrocketing 200% year-on-year in […]
BEH gets EBRD’s financial backing to help with energy market liberalization
State-owned energy company Bulgarian Energy Holding (BEH) has secured a EUR 100 million investment from the European Bank for Reconstruction and Development (EBRD) in its seven-year EUR 550 million bond issuance to refinance an earlier bond under better terms, in what will improve its financial structure and is expected to help with the country’s energy […]
Bulgaria’s NEK reports net loss in H1, to cancel some projects
Power utility Natsionalna Elektricheska Kompania (NEK) reported a BGN 74 million (EUR 37.8 million) net loss for the first six months of the year, according to the interim financial report published on the website of the Ministry of Finance, the Bulgarian media reported. The company said that due to poor financial results some investments will […]
Bulgaria’s NEK calls for tender for Chaira HPP rehabilitation
Bulgarian National Electricity company (NEK) has invited sealed tenders from contractors from all over the world for the rehabilitation of pumped-storage hydro power plant Chaira, located in the Rila mountains, some 100 km from Sofia. The call for tender, published at the NEK website, says that subject of the tender are all activities and components […]
Bulgarian national electricity company invites tenders for rehabilitation of three HPPs
Bulgarian National Electricity Company (NEK) is inviting sealed tenders from contractors for the rehabilitation of three hydro power plants (HPP). The facilities to be rehabilitated are Belmeken pumped-storage HPP, and Sestrimo and Momina Klisura HPPs. Subject of the tender are all activities and components of the engineering service such as design, manufacture, delivery, installation, designer […]
Power production and distribution companies in the Balkan region – governments still in charge
By Vladimir Spasić, energy journalist and analyst It is not just that the governments in the Balkan region do not consider selling their power utilities, but they covet buying what they sold twenty years ago, or at least buying from their neighbors. This can be illustrated by the announcement of Serbian power utility Eletkroprivreda Srbije (EPS) […]
EVN suspends construction of hydropower plants in Bulgaria
Austrian energy company EVN suspended its plans for the implementation of a 170 MW hydropower project in Bulgaria. Further implementation of Gorna Arda hydro power project is not realizable in the current environment due to changed energy policy conditions in Bulgaria, the company said in its latest business performance report. EVN says that impairment losses […]
