NPP Kozloduy with procurement for BGN 41 million for repairs of 5th and 6th power unit NPP Kozloduy will allocate a considerable sum for repairs of its 5th and 6th power units in 2015, the Capital Daily reports. This transpires from the public procurement worth BGN 41.433 million announced in the beginning of December. The funds are a lot more compared to previous years. This is what an inquiry into the public procurements announced by NPP Kozloduy for the annual plans and repairs of the two power units shows. The NPP told the Capital Daily that in 2015 the two power units will undergo the necessary repair activities, maintenance of their equipment and systems, as well as refuelling. “Apart from this activities are planned related to the preparation and implementation of measures from the programme for the extension of the lifespan of 5th and 6th power units of NPP Kolzoduy,” representatives of the NPP added. The operating licenses of the two power units expire in end-2017 and end-2019 respectively. The companies that usually win the tenders for repair activities at NPP Kozloduy are a few and quite familiar. In 2014 Enemona won the tender with a total of three offers submitted. Its value was nearly BGN 10 million. In 2013 Energoremont Holding, connected to Bogomil Manchev, won the tender worth BGN 9.4 million. It was selected because of the most economically favourable from a total of four offers. In 2012 Atomenergoremont undertook the repair activities, which is indirectly owned by Hristo Kovachki. At the time the tender was for slightly over BGN 22 million. The same company won the tender for BGN 23.380 million in 2011. There would hardly be any surprises among the candidates for repair activities in 2015.
Source: Capital (12.01.2015)

Life Extension of Units 5, 6 of Kozloduy NPP Proceeds as Planned- Watchdog Chair The life extension of units 5 and 6 of the Kozloduy nuclear power plant proceeds according to plan, according to Lachezar Kostov, Chair of the Bulgarian Nuclear Regulatory Agency (BNRA). Kostov informed that the BNRA had received all necessary documents for the procedure by November 2014 and had approved the life extension of the two N-plant units. He said that parallel to that Worley Parsons was estimating whether the recommended measures were sufficient. Kostov noted that the contract with the consultant was worth around BGN 150 000. He made clear that Worley Parsons was expected to present its evaluation of the program by April 2015, adding that the life extension plans for the two N-plant units could include additional measures. Kostov said that the Kozloduy NPP could launch the implementation of the plan approved by the BNRA immediately. Borislav Stanimirov, Deputy Chair of BNRA, claimed that the life extension of the two N-plant units was a a purely technical question and there was no politics involved.
Source: Standart (22.01.2015)

Ministry of Environment and Water approved the environment assessment of the project to build a new nuclear power unit at the site of NPP Kozloduy. This happened on Tuesday after a week earlier Supreme Expert Environmental Council also gave the green light to the EIA of unit 7. Of the five options for the site is chosen site 2, which is located east of units 1 and 2 of NPP Kozloduy, towards the village Harlets, south of the built hot and cold channel. Its area is about 55 hectares. The EIA procedure started in June 2012, the project company Kozloduy NPP - New facilities reminded.
Source: Monitor (29.01.2015)

Bulgaria Will Not Launch New N-Plant Units until 2024 – Forecast Bulgaria will not launch new nuclear capacity in the next 10 years, according to a forecast of the Electricity System Operator (ESO). According to state-owned ESO, the Maritsa-Iztok 2 thermal power plant will not need an expansion by units 9 and 10 over the next 10 years. The forecast, as cited by Pressa daily, is part of a draft plan for the development of the electricity network in the period 2015-2024. According to the document, the construction of the Belene nuclear power plant was stopped through decisions of Bulgaria’s government and Parliament. As regards the project for unit 7 of the Kozloduy nuclear power plant, the forecast suggests that it should enter into service after 2025 due to the lengthy conciliation proceedings. ESO also cites a forecast of the European Commission by 2050 under which Bulgaria is expected to unveil new nuclear capacity after 2035. At the same time, the forecast envisages an increase in the capacity of the 1000-MW units 5 and 6 of the Kozloduy NPP by 100 MW through upgrades of the turbines. The Gorna Arda hydro power project will be built to include 3 dams and 3 hydroelectric power plants, with the Byal Izvor hydroelectric power plant scheduled to become operational first, in 2022, with a capacity of 44 MW. One year later, the Ardino HPP is to be launched with a capacity of 56 MW, and in 2024, the Gorna Arda hydro power project is be completed with the launch of the Kitnitsa HPP with a capacity of 66 MW.
Source: econ.bg (09.02.2015)

Bulgaria’s National Electric Company Spends Most on Green Electricity Bulgaria’s National Electric Company (NEK) spends the most on renewable energy and the least on electricity produced by the Kozloduy Nuclear Power Plant (NPP), according to Petar Iliev, Executive Director of NEK. Iliev appeared Wednesday at a hearing before the ad hoc parliamentary committee on establishing the current situation in the energy sector. Iliev made clear that 3% of NEK’s expenses went to the cheapest electricity generated by the Kozloduy NPP, while renewable energy plants accounted for a share of 26% of the company’s spending. He pointed out that the deficit at NEK increased further due to the obligation of the company to buy all the electricity produced by certain power plants, regardless of the fact that in some cases the output exceeded the quotas set by the energy watchdog. Iliev, as cited by the Bulgarian National Radio (BNR), condemned the quotas as unrealistic, stressing that in some cases overproduction amounted to 74% and the surplus had to be bought at preferential tariffs. He noted that the situation in the energy sector was expected to improve as a result of Energy Act amendments adopted by Parliament recently under which NEK was to buy electricity from factory power plants and thermal power plants only if the output was high-efficiency electricity and did not exceed the quotas set by the energy watchdog. Iliev argued that a potential new increase in electricity prices in July would be immoral. He specified that the price of electricity on the free market was BGN 70/MWh, while household consumers, who were supposed to be protected consumers, paid BGN 125/MWh on the regulated market.
Source: National radio (12.03.2015)

Bulgaria asks Westinghouse to take up 49% stake in Kozloduy nuclear reactor Bulgaria’s Cabinet has asked US nuclear firm Westinghouse Electric to join the proposed expansion of the Kozloduy nuclear power plant as a strategic investor and shareholder with a 49 per cent stake, Energy Minister Temenouzhka Petkova said on March 26. Speaking on the sidelines of a conference on nuclear energy, Petkova said that the government has also asked Westinghouse to raise “project financing corresponding to their stake” and then stay on as a shareholder for as long as possible. Last year, the now-departed Plamen Oresharski administration signed a shareholder agreement with Westinghouse to build a new 1000MW reactor at Kozloduy, with an estimated cost of $5.3 billion. The deal was agreed by the cabinet just days before it left office, which irked the socialists who were backing the government, but must still be approved by the current government. That deadline expires on March 31, Petkova said, with negotiations between the government and Westinghouse expected to go to the wire. The shareholder agreement envisions the Kozloduy power plant, which is fully state-owned, holding a 40 per cent stake in the company that would build the new reactor, with Westinghouse taking the rest. The US firm would provide all of the plant equipment, design, engineering and fuel. The agreement contained no financial commitments for the Bulgarian state, since, at the point it was signed, work on the financial framework and the engineering agreements had not started yet. Petkova said that the Cabinet was keen on the project requiring no government guarantees, thus having no impact on Bulgaria’s debt or budget deficit. Asked how the government planned to raise its 51 per cent share of financing – provided Westinghouse agreed to raise the remainder – Petkova said that it was too early to discuss the issue before the negotiations with Westinghouse were concluded.
Source: vesti.bg (27.03.2015)

Project for Bulgaria’s 7th unit of NPP Kozloduy fails Westinghouse refused to become a strategic investor in a new nuclear capacity. The company will not take part in the project for the 7th power unit of NPP Kozloduy, several government sources confirmed. The deadline to sign the agreement was March 31. Following the refusal of Westinghouse the establishment of the new nuclear capacity seems impossible. Following the visit of US Secretary of State John Kerry rumours have been spread about financing for the project being attracted from Export-Import Bank of the United States.
Source: Capital (02.04.2015)

Westinghouse to Continue Talks with Bulgaria over Kozloduy NPP's Unit 7 US-based Westinghouse Electric Company said on Thursday it agreed to discuss a new timetable and structure of the project to build Unit 7 of Bulgaria's Kozloduy nuclear plant. Westinghouse CEO Danny Roderick said the decision had been taken "jointly by all parties and reflects the present conditions in Bulgaria of support for an infrastructure project of such a scale." This comes after Bulgaria set new conditions for Westinghouse to build Unit 7, tabling the prerequisite that it should provide substantial financing for the project and have a 49-percent stake in the project company. The company was to accept or decline the new demands by March 31, when a shareholders agreement, signed with the previous elected government, expired. Plamen Oresharski's cabinet signed the document in August of 2014, days before leaving office, passing a final decision on the project on to the next administration.
Source: Sega (03.04.2015)

Bulgaria's NPP Kolzoduy to sell power online NPP Kozloduy intends to introduce an online platform for the sale of its power, which is “developed with own funds and resources”. In January this was done by Maritsa East 2 TPP, which was the first to begin using this trade mechanism, while the National Electricity Company (NEK) took advantage of the bilateral agreement practice in end-2014. It would seem that state companies have started to orient towards growingly flexible mechanisms for sale, such as the online trade of power. The changes are dictated by the further liberalisation of the power market and the necessity for participants to be as adequate to the new market conditions as possible in spite of the lack of an energy exchange.
Source: Capital (20.04.2015)

Qatar is interested in investing and financing the construction of 7th unit of Kozloduy NPP Qatar is interested in investing and financing the construction of the 7th unit of Kozloduy Nuclear Power Plant (NPP). This emerged during the meeting between Bulgarian Prime Minister Boyko Borisov with His Highness Sheikh Hamad Bin Khalifa Al Thani, the Father Amir, press centre of the governmental service announced. “Bulgaria wants to build a new nuclear unit at the site of the existing Kozloduy NPP. The nuclear units there were built back in the 70’s of the last century, which is an advantage for having already built infrastructure and trained nuclear engineers. After the early closure of the first 4 units of the plant, which was one of the requirements for Bulgaria’s accession to the EU, Bulgaria took a decision to build a new modern nuclear unit of the latest generation which to meet the energy needs of the state and at the same time to cover the highest ecologic criteria,” Boyko Borisov said. The Bulgarian PM specified that there is an agreement with the U.S. Westinghouse Company for the delivery of the nuclear unit, but Bulgaria is currently seeking a key investor. In his part Sheikh Hamad Bin Khalifa Al Thani showed interest in the Bulgaria’s energy strategy and asked for detailed information for the parameters of the project. Boyko Borisov and Al Thani talked about the possibilities for deliveries of liquefied gas from Qatar to Bulgaria. "For Bulgaria it is important to diversify gas supplies. We are working hard on the construction of interconnectors with Greece, Turkey, Romania and Serbia, with priority to the interconnector with Greece. This will allow importing gas from liquefied gas terminals on the Greek coast, because the passage of gas tankers through the Bosporus is impossible at this stage," Boyko Borisov said. Sheikh Faisal bin Saud Al Thani, Head of Business Development - Qatar Holding at Qatar Investment Authority declared interest in investment in transport infrastructure, energy and agriculture. Representatives of the Holding met with Bulgarian Prime minister Boyko Borisov and Bulgarian ministers, the governmental information service announced.
Source: Standart (19.05.2015)

Bulgargaz and Bulgartransgaz held over 25% of their money in CCB The total amount of cash in the CCB of the Bulgarian Energy Holding (BEH) and its subsidiaries amounted to BGN 132.839 million, said Minister of Energy Temenuzhka Petkova. "In particular, the holding’s current accounts in CCB amounted to BGN 44.073 million at the time of placing the bank under special supervision. On June 20, 2014 NPP Kozloduy had cash in the CCB of over BGN 4 million. The requirement for a net concentration is observed as of June 30, 2014. NEK had BGN 14 million in CCB. The company has a contract with the bank following a procedure of public procurement law. Minister Petkova pointed out that the choice of bank is approved by resolution of the Board of Directors. Cash of ESO in the bank amounted to over BGN 3 million.
Source: Presa (27.05.2015)

Mines Maritsa Iztok is looking for a working capital loan with a limit of BGN 40 million in the form of overdraft for a term of one year, becomes clear from announced in the beginning of June public tender. Funds are needed for insuring temporary financial resource in case of shortage of money. In that way, current activities in relation to payment of taxes, suppliers of goods and services as well as payments of obligations to employees are to be covered. Forecasted value, pointed by Mines Maritsa Iztok for granting of the loan is BGN 1.124 million, VAT included. The state company’s public order is divided into three detached lots, one with a limit of BGN 8 million and the other two of BGN 12 and BGN 20 million respectively. Candidates may hand out offers for one or more of the announced lots. There are no requirements for their economic or financial capacity. Main requirement, under which participants will be ranked, is the proposed lowest price. Towards the end of 2014 Mines Maritsa Iztok has loans to a total of seven banks, assessed to BGN 34.575 million.
Source: Capital (09.06.2015)

Construction of Bulgaria's seventh nuclear reactor will cost USD 5.3 bln Construction of the 7th reactor of NPP "Kozloduy" will cost 5.3 billion dollars, it emerged during a conference at the Ministry of energy between special envoy of Secretary of State John Kerry Amos Hochstein and Bulgarian Minister of energy Temenuzhka Petkova. The specific amount is the final price of the contract. The participation of NPP "Kozloduy" in building the future power capacity will amount to 400 million dollars. WE recall that yesterday the Special Representative of the US Secretary of State Amos Hochstein arrived in Bulgaria. He met with the Minister of Energy, President Rosen Plevneliev, Prime Minister Boyko Borisov and Foreign Minister Daniel Mitov and they discussed the diversification of natural gas supplies to Bulgaria.
Source: Standart (12.06.2015)

Lukoil is ¹1 in the ranking of the largest companies Lukoil Neftochim Burgas topped the list of Capital of the 100 largest Bulgarian companies again this year. Revenues of the refinery in 2014 is BGN 6.5 billion. Second is Aurubis Bulgaria with BGN 4.1 billion and commercial company Lukoil Bulgaria is third with BGN 3.2 billion revenue. The first four places (the fourth is NEK) ranking of companies is the same as in 2013, with the difference that the income of the four companies were higher than in 2014. The results show that the 100 largest companies in the country have total revenue of BGN 58 billion, which is 20% of all declared business turnover in 2014. Despite economic growth of 1.7% for the year, the revenues of big business decline. Debut among the top 10 companies in the ranking makes the NPP Kozloduy, which rose from 14th to 10th position. Other companies in the top 10 were Bulgargaz, CEZ Electro Bulgaria, OMV Bulgaria, Kaufland Bulgaria and Saksa.
Source: Standart (02.07.2015)

NPP Kozloduy lost its long-term sales due to ambiguity in electricity prices Due to ambiguity around electricity prices NPP Kozloduy has lost part of its long-term contracts for sale of electric energy. At the same time NEC began to delay payment of its debts to the power plant and do not repay the amount indicated in the repayment plan between the two companies. Nearly BGN 40 million, which NPP Kozloduy will have to submit in future fund "Security" of the power system, the plant hopes to find by optimizing its work. All conventional plants that will pay 5% of its turnover in the fund will actually calculate this cost in the price at which they sell energy on the open market and thus, in the chain, this cost will reach the final cost to consumers.
Source: Duma (13.07.2015)

Bulgaria's NPP Kozloduy H1 net profit jumps 46% The operator of Bulgaria's sole nuclear power plant (NPP) Kozloduy said its net profit rose 46% to BGN 67.4 million in the first half of 2015. Total revenues edged up 0.17% on the year to nearly BGN 424.6 million through June while electricity-related revenues decreased by 0.4% to some BGN 413.3 million, the NPP operator said in a financial report. The company’s operating expenses stood at 349.8 million levs through June, up 2% compared to the first half of 2014. Kozloduy’s own investments for the period totaled BGN 40.3 million compared to BGN 53 million worth of investments in the first six months of last year. Kozloduy NPP, a subsidiary of state-operated Bulgarian Energy Holding, remained with two operational reactors - Units 5 and 6 - of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007. In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant. The NPP's planned Unit 7 is seen operational after 2025 due to the project's long synchronisation procedures, the country's electricity transmission system operator said in March.
Source: Capital (06.08.2015)

AES and ContourGlobal thermal power plants and renewable energy producers will remain the primary sources on our energy market, recent data show. The latest data of energy watchdog KEVR show that AES Maritsa East 1 and ContourGlobal Maritsa East 3 set their share in Bulgaria's energy system at 20% and 25.2%, respectively. Renewable energy sources, which currently produce the most expensive energy (and which have been purchased under preferential conditions since the government passed laws to this end in early 2010) form 18.8% of the market. State-owned Maritsa Iztok 2 TPP and Kozloduy NPP have seen a substantial decrease in their respective shares, which now stand at 4.1% and 6.7%. This comes right after the government issued a statement that it would be bringing Maritsa Iztok 2 out of the regulated market. The rest of the energy is generated by heating utilities (16.3%) and the hydropower plant owned by the National Electricity Company (8.75%). Bulgaria is trying to tackle the BGN 3.7 billion debt of the NEC through a number of measures, including an increase in power prices for businesses, as well as to gradually move toward energy market liberalization.
Source: Capital (11.08.2015)

Bulgaria to forego dividend from state energy holding Bulgaria’s Energy Ministry will not seek any dividend from the Bulgarian Energy Holding (BEH) for 2014, using the money instead to bolster the group’s equity capital as it seeks to borrow money to pay back debts owed by its electric utility subsidiary to two power plants owned by US private investors, reports in Bulgarian media said on August 12, citing filings with the country’s trade register. According to the reports, the ministry was due to receive 239.5 million leva, or about 122.4 million euro, in dividend from BEH, the umbrella structure set up by Bulgarian government in 2008 to consolidate state-owned companies in the energy industry. BEH is currently seeking to borrow at least 800 million leva for its subsidiary NEK, the state electric utility, which needs the money to pay back the debts owed to AES Maritsa Iztok 1 and ContourGlobal Maritsa Iztok 3 power plants as part of an agreement under which the two coal-powered plants would reduce the price at which they sell electricity to NEK. (sofia globe)
Source: Sega (13.08.2015)

List of Bulgaria’s CorpBank creditors published A list of creditors of Corporate Commercial Bank (CorpBank) has been published in the Commercial Register. The 173-page list contains the names of individuals and firms with recognised claims. The biggest creditor is the Bulgarian Deposit Insurance Fund (BDIF), which paid BGN 3,647,600,000 to 109,230 depositors from December 4, 2014 to August 17, 2015. The list contains the names of depositors with deposits of BGN 196,000, which is guaranteed by the state. The biggest bank creditors are the Bulgarian Development Bank (over BGN 46 million), Societe Generale, Paris (over BGN 44 million), Commerzbank AG, Frankfurt (almost BGN 12.5 million), the Privatisation and Post-Privatisation Control Agency (PPCA) (BGN 10.7 million), and the National Revenue Agency (NRA) (over BGN 3.2 million). Toplofikatsiya Sofia heating utility is the biggest creditor among companies with over BGN 90 million. It is followed by the Dunarit military plant (over BGN 85 million), the Telish winery, NURTS, and others. Hospitals are also among the CorpBank creditors. The list also contains the names of physical persons but Minister of Culture Vezhdi Rashidov and former prime minister Ivan Kostov are not among them. They had themselves said they had money in the bank. The list contains the name of Ahmet Dogan, honorary chairperson of the Movement for Rights and Freedoms (MRF). He had BGN 694,000 in CorpBank. The list was compiled on June 22 and does not include claims that had been paid because they were covered by the state guarantee. The list can be appealed against in up to 14 days, after which the assignees will have their say on claims in 7 days.
Source: Agency Focus (19.08.2015)

Seventh block of NPP Kozloduy may happen in no less than 10 years Although the silent debate about the future fate of the seventh block of NPP Kozloduy the construction of the reactor is included in the regular report of KEVR to the Agency for the Cooperation of Energy Regulators and the European Commission (EC) last year. The document says that in the most optimistic possible option, the new reactor at the site of NPP Kozloduy is expected to come into operation after 2025. The reason for this are the long-ordination procedures that lie ahead, explain the experts. "This is supported by the European Commission forecast to 2050, in which more nuclear power in Bulgaria is foreseen after 2035", according to KEVR. The Commissioner added that the option of a seventh reactor at the site of NPP Kozloduy will be taken into account in the next update of the plan for development of the electricity network.
Source: Sega (03.09.2015)

Extension of Life of Unit 5 of Bulgaria’s Kozloduy NPP May Be Delayed by 1 Year The process of extending the life of unit 5 of Bulgaria’s Kozloduy nuclear power plant may be delayed by a year, according to Bogomil Manchev, President of the Bulgarian Atomic Forum (BULATOM). Manchev told the Bulgarian National Radio on Wednesday that after seven years of effort to extend the life of units 5 and 6 of the Kozloduy NPP and a 5-year struggle to sign the contract on the matter, the drafting of the program was running behind schedule. He noted that there was a risk hat the program would not be ready by the expiration of the life of unit 5 of the Kozloduy N-plant. Manchev explained that the negative impact of the delay consisted in fines which the Bulgarian watchdog would impose on the Kozloduy NPP. “Although the Kozloduy NPP will find the money necessary for the upgrade of the units and for the extension of their life, it will lose financial resources due to the misguided policy,” he declared. He expressed his indignation at the fact that around 30% of the electricity produced by the Kozloduy NPP was bought at the price of BGN 30, an absurdly low rate, in his opinion. Manchev said that the N-plant was plagued by a number of problems, including a debt of around BGN 130 M of Bulgaria’s national power utility, the National Electric Company (NEK), to the Kozloduy NPP. “After all, a sum of BGN 130 M amounts to 30% of the gross production of the Kozloduy NPP,” he declared.
Source: econ.bg (17.09.2015)

Bulgaria’s Kozloduy NPP Reports 9-Month Profit of BGN 156 M Bulgaria’s Kozloduy nuclear power plant has reported a profit of around BGN 156 M for the first nine months of the year, according to Dimitar Angelov, CEO of the N-plant. Angelov, as cited by the Bulgarian National Radio, made clear that the accounting profit of the Kozloduy NPP for the first six months of stood at BGN 116 000 000. In the period July-mid September, the N-plant registered a positive financial result of around BGN 40 000 000, according to Angelov. “It is true that this applies for the first period of both units functioning. Now that the repair works at units 5 and 6 have been wrapped up, we shall see the end result and the expenses we shall incur during the period. We hope that we shall close 2015 with a good financial result too,” the CEO of the Kozloduy NPP noted. Unit 6 of the Kozloduy NPP is currently undergoing a planned annual overhaul, which is to be wrapped up on October 24, while the other 1000-MW unit of the N-plant, unit 5, is functioning at full capacity.
Source: investor.bg (23.09.2015)

Bulgaria to fully liberalise power market in early 2016 - energy min Bulgaria is scheduled to have a fully operational free power market by the beginning of 2016, the country's energy ministry said on Tuesday. The liberalisation of Bulgaria's power market is a top priority for the government, the energy ministry said in a press release. In the beginning of 2014, the state-owned Bulgarian Energy Holding (BEH) set up the Independent Bulgarian Energy Exchange (IBEX) which holds a licence to operate the electricity exchange in Bulgaria for a period of 10 years. In April, IBEX and power market operator Nord Pool Spot signed a cooperation agreement aimed at setting up a day-ahead power exchange in Bulgaria. In August, the World Bank Group signed a deal with BEH to consult it on the liberalisation of country's energy market.
Source: Capital (30.09.2015)

Bulgaria's Lukoil Neftochim Remains Third Biggest Company in Southeast Europe Lukoil Neftochim Burgas, the largest crude oil refinery in Southeastern Europe and the largest industrial enterprise in Bulgaria, retained its third position in the latest annual ranking of SeeNews released on Tuesday. The company which specialises in the production of fuel, petrochemicals and polymers retained its ranking from 2013. Its total revenue for 2014 exceeded EUR 3.3 B, the company registering a net loss of more than EUR 272 M. The Top 100 list ranks the 100 biggest companies registered in Albania, Bosnia-Herzegovina, Bulgaria, Macedonia, Moldova, Romania, Slovenia, Serbia, Croatia and Montenegro. Two Romanian companies – Automobile Dacia SA and OMV Petrom SA occupy the first two positions with the car manufacturer having ousted the oil and gas producer from the first place in 2014. The other Bulgarian companies on the list are: Aurubis Bulgaria AD (8), Lukoil Bulgaria EOOD (13), the National Electricity Company (15), Bulgargaz EAD (41), CEZ Elektro Bulgaria AD (47), OMV Bulgaria OOD (49), Kaufland Bulgaria EOOD & Co KD (61), Saksa OOD (82), AETs Kozloduy EAD (92) and the Bulgarian Telecommunications Company AD (95).
Source: Standart (07.10.2015)

Rusatom Service, part of Russian state-owned nuclear corporation Rosatom, plans to take part in a tender for the expansion of the lifespan of the 1,000 MW Unit 6 of Bulgaria's Kozloduy nuclear power plant (NPP), Moscow-based media reported. Rusatom is ready with its proposals to create a consortium with other companies for the tender. In June, Bulgarian deputy energy minister Nikolay Nikolov said the Kozloduy NPP will upgrade Units 5 and 6, aiming to extend their lifespan and raise their capacity. The upgrade will cost a total of EUR 360 million, he added. The license for operation of Unit 6 of the nuclear power plant expires in 2019. The extension of its lifespan, and that of the NPP's other working unit - Unit 5, have been declared as priority for the Bulgarian government.
Source: investor.bg (09.10.2015)

Westinghouse Should Return to Bulgaria, but 'Under New Conditions Bulgaria's Prime Minister Boyko Borisov has voiced his hope that US-based Westinghouse will return to Bulgaria and build Unit 7 of the Kozloduy nuclear power plant, but under new conditions. Westinghouse Electric Company was to build Unit 7 under an agreement with the previous elected government. However, Borisov's cabinet said the document could not be put in practice unless Westinghouse took part in the project as an investor. Apart from a stake of 49%, the company was to commit to providing the necessary funding, the PM stated. Westinghouse thus did not sign a shareholders' agreement, letting it expire on March 31, and the project was virtually brought to a halt. On Monday, speaking at an AmCham conference, Borisov urged the company to return and build under "European" conditions - with a clear financial plan for costs related to construction, purchase of the nuclear fuel itself, and project funding. He accused Westinghouse of failing to provide a mid- and long-term vision about the project. Borisov blamed AmCham Bulgaria for failing to publicly side with either Westinghouse or the government when the dispute began in the spring. The Bulgarian News Agency quotes him as saying: "I am talking to you like this because we are partners and friends, not just when we have lunch, but also when there is a problem. If you know something, help me. We are one. We are friends... We stop Russian planes, we also stop three Russian projects, and if [we aren't] your partners, who is?"
Source: 24 chasa (13.10.2015)

Rosatom to Modernise Generator Equipment of Bulgaria's Kozloduy NPP Russia's Rosatom will modernise the generator equipment of unit 5 of Bulgaria's Kozloduy nuclear power plant (NPP). This was agreed in a EUR 24.7 contract signed by Kozloduy NPP and Rosatom on Saturday 30, the Russian corporation informed on Friday. The delivery timeframe of the core equipment for Unit 5 is 500 days, with all upgrades expected to be completed by May 2018. Bulgaria is working towards extending the lifespan of the nuclear reactors by 30 years in attempt to keep a cap on the costs of electricity. Kozloduy NPP produces nearly 35 % of Bulgaria's electricity and is one of the cheapest sources of power, Reuters informs. Bulgaria launched a EUR 360 M upgrade of the reactors in an attempt to avoid another hike in the prices of electricity. A consortium led by Rosatom units Rosenergoatom and Rusatom Service and French electric utility company EDF has been hired to carry out the upgrades of unit 5. The rotor of the generator will be transported for repair and modernisation to Saint Petersburg and a new stator will be manufactured and delivered, which will upgrade the capacity of the unit from 1000 to 1100 megawatts. This is the second contract between Kozloduy and Rosatom, a similar one having been signed for installation and commissioning of a modernised stator at unit 6 last year.
Source: Monitor (19.10.2015)

The loss of the National Electricity Company (NEK) is expected to reach BGN 400 million at the end of the year. In the first nine months the company’s loss was BGN 311 million, said Finance Director of NEK Rumyana Krasteva within the open meeting of the Commission for Energy Regulation (KEVR) to discuss the minimum depreciation of the additive 'obligation to society’ for business from 1 November. According to Krasteva, change of additive 'obligation to society’ will positively affect the state power company. BGN 40.5 million will be saved from the cost of electricity by district heating companies as expectations are for revenues of BGN 35 million for the whole regulatory period. According to Krasteva, however, this will not lead to a lowering of the company's liabilities. NEK’s revenues decreased in August and September as the received revenues are by BGN 10 million less.
Source: investor.bg (27.10.2015)

Bulgaria reconnects to grid NPP Kozloduy 1,000 MW unit after scheduled overhaul The operator of Bulgaria's sole nuclear power plant Kozloduy said on Wednesday it reconnected to the grid its 1,000-megawatt (MW) Unit 6 following planned annual maintenance. The maintenance works included recharging the unit with fresh fuel, the plant operator said in a press release on Wednesday. The unit was reconnected to the power grid at 6.04 p.m. Sofia time on Tuesday, it added. Unit 6 was switched off on September 5 The plant's other 1,000 MW unit continues to operate at full capacity, the plant operator also said. The Kozloduy NPP remained with two operational reactors of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007.
Source: Monitor (29.10.2015)

The first transaction for electricity on the free market, which will go through the new energy market, will take place on December 9. A day earlier premiere of exchange has to take place. All participants will be registered there- producers, traders, consumers. There will be clarity of the prices at which energy is traded at the time. "The introduction on the stock exchange is absolutely necessary. Otherwise, the contraction of the regulated market will lead to a change in the price of electricity," warned the head of the energy regulator Ivan Ivanov.
Source: Sega (06.11.2015)

Rosatom unit completes latest stage of Bulgarian NPP Unit 6 upgrade Rusatom Service, part of Russian state-owned nuclear corporation Rosatom, said on Monday it completed the latest stage of a project for the upgrade and extension of the life of the 1,000 MW Unit Six of Bulgaria's sole nuclear power plant (NPP) Kozloduy. The works on the project were carried out during the scheduled annual maintenance of the unit which was completed on October 27, Rusatom Service said in a press release. They included activities aimed at raising the capacity of the unit's turbo generator to 1,100 MW. Kozloduy NPP remained with two operational units - Units 5 and 6 - after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007. In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant. The NPP's planned Unit 7 is seen operational after 2025. In 2013, the Kozloduy NPP said it had signed a contract for an undisclosed sum with Rusatom Service for the purchase of equipment and maintenance services for its Unit 6.
Source: Standart (10.11.2015)

Bulgaria's NPP Kozloduy 9-mo net profit jumps 32% The operator of Bulgaria's sole nuclear power plant (NPP) Kozloduy said its net profit rose 32% to BGN 118 million in the nine months through September. Total revenues edged up 3% to nearly BGN 644 million through September while electricity-related revenues decreased by 1.6% to some BGN 625 million. The company’s nine-month operating profit was flattish at BGN 125 million. Kozloduy NPP's investments in the period under review totalled BGN 61 million. Kozloduy NPP, a subsidiary of state-operated Bulgarian Energy Holding, remained with two operational reactors - Units 5 and 6 - of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant. The NPP's planned Unit 7 is seen operational after 2025 due to the project's long synchronisation procedures, the country's electricity transmission system operator said in March.
Source: Duma (11.11.2015)

Bulgaria Negotiates with Chinese Investor on Funding for Construction of Units 7, 8 of Kozloduy N-plant Bulgarian Prime Minister Boyko Borissov said here on Wednesday that he and Prime Minister Tomislav Donchev are trying to attract a big Chinese investor for the construction of Unit 7 and, later on, of Unit 8 at the Kozloduy nuclear power plant. "We are talking about a financial investor in a future construction because we all know that in 10 to 15 years we have to continue having reactors at Kozloduy, but this requires money," Borissov told the Bulgarian community in Beijing. The Bulgarian PM met with representatives of the Bulgarian community in China within his visit to the Asian country from November 22 to 27. The meeting took place at the Bulgarian Embassy in Beijing. According to Borissov, having reactors in 15 years requires talks on this topic as of now and preparation of a financial and economic rationale. Taking a question, he said that Westinghouse works very well with the Chinese company with which he and Donchev held talks on Wednesday. In Borissov's words, he held talks with Westinghouse on Friday after the documents on a Unit 7 at the Kozloduy N-plant were not signed. "We said several things which we have to achieve before we can return to the negotiating table: to find a financial investor who can participate in the construction, and afterwards the State should have the option to buy shares once it starts producing electricity," he noted. He also said that Westinghouse had recommended the making of a proposal to a Chinese company to fund 49 per cent of Unit 7. "The second condition is that we hold preliminary talks on export, based on analyses of how much electricity will be needed for domestic consumption and whether we will export," Borissov noted. He added that by using the capacity and contacts of big companies, Bulgaria can sign preliminary contracts on electricity export with its neighbouring countries. "Now we are ticking off the tasks and once we fulfil them, I will come out and tell you: we have conditions to sign. At the moment I am just informing you that at these meetings we are agreeing on strategic plans for the next years," Borissov noted. Commenting on the conflict between Turkey and Russia, the Prime Minister said that the less Bulgaria is showing bellicosity and making extreme statements on this topic, the better it will be for the country's stability. In his words, Bulgarian diplomats and the Foreign Minister should be given the opportunity to "keep us away from this conflict because Russia and Turkey are always in conflict but they always make their biggest projects together, while we, as long as we are constantly swaying, will only bring upon ourselves the anger of either the one or the other." On Thursday, Borissov is scheduled to meet with China's Premier Li Keqiang and President Xi Jinping. Also on the programme is the signing of an agreement in the sphere of education.
Source: Capital (26.11.2015)

Mini Maritsa Iztok began rehabilitation of industrial lighting In late October, Mini Maritsa Iztok signed two contracts increasing the energy efficiency of the company, financed by the International Fund for supporting the decommissioning of NPP Kozloduy. The project has a total value of BGN 3.3 million and is divided into two lots. The mining company will receive for free 70% of the value of the entire project (equivalent to BGN 2.3 million) and the remaining 30% are co-financing (BGN 990 thousand). After a procedure, implemented according to the rules of the European Bank for Reconstruction and Development, the selected companies are contractors SIEMENS EOOD, Bulgaria, for the project part for compensation of reactive power of heavy mining equipment, and Etralux, Spain, for the rehabilitation of industrial lighting by replacing it with LED.
Source: Construction City (03.12.2015)

A consultant for the new block in NPP wanted Nuclear Regulatory Agency (NRA) announced a competition for a consultant to analyze the preliminary report on the safety of new nuclear facility in the NPP Kozloduy on the already chosen site. The value of the contract is BGN 220 thousand and the deadline for implementation - 6 months. The competition is open only to persons who have executed similar orders so far, says the announcement. So far for the facility have spent BGN 12 million. Bulgaria decided to build a 7th unit at the NPP Kozloduy in early 2012. As executor was chosen Westinghouse at the end of 2014. In early 2015, it appeared that the US company does wants to be a strategic investor in the project, but only supplier of the equipment. As a result, Bulgaria froze the construction of the installation.
Source: Trud (07.12.2015)

Sample deals for 1074.5 MWh of electricity in the first day of the stock exchange 1074.5 MWh of electricity were traded in the first session of the energy market, which was held from 12.23 am to 13 am Friday. This is 0.9% of the winter consumption, which is an average of 120,000 MWh per day. The head of the independent Bulgarian Energy Exchange Konstantin Konstantinov said that the relatively good liquidity of the stock market will occur in the trading of 5% of the electricity used in this country. He predicted that this would happen in the first days of live trading in mid-January. The first session was a test. For the first and last time 17 companies announced public offers with prices and quantities for each hour of the day. They ranged from BGN 30 to BGN 83 per MWh. These were not the prices at which they will offer during a real session. Trading volumes were 1133.6 MWh, the only seller was the state-owned Maritsa East 2. The plant reached BGN 74.56 for MWh.
Source: 24 chasa (12.12.2015)

Bulgaria's Atomenergoremont files to list on Sofia bourse Bulgarian equipment maintenance and repair services company Atomenergoremont filed on Tuesday a listing application with the Sofia stock exchange, bourse data showed. Atomenergoremont plans to offer investors 15,344,140 shares with a nominal value of BGN 1, the company's listing prospectus, filed with the Sofia bourse indicated. The prospectus has already been approved by the financial supervision commission. Atomenergoremont's total own capital amounted to BGN 57 million by the end of June. The company is majority-owned by local supplier and installer of architectural roofing and wall cladding systems Bultrade Corporation.
Source: investor.bg (23.12.2015)

Bulgaria's NPP Kozloduy meets early 2015 output target of 15,304 GWh The operator of Bulgaria's sole nuclear power plant (NPP) Kozloduy said on Wednesday it produced 15,303,928 MWh of elecricity since the beginning of the year, meeting its annual plan a day early. By the end of 2015 the plant's 1,000 MW units 5 and 6 are expected to operate at 100% capacity, NPP Kozloduy said in a press release. Kozloduy NPP, a subsidiary of state-operated Bulgarian Energy Holding, remained with two operational reactors - Units 5 and 6 - of 1,000 MW each after the country closed down four units of 440 MW each to address nuclear safety concerns of the European Union prior to its accession to the bloc. Bulgaria joined the EU in 2007. In April 2012, the government in Sofia decided to add another 1,000 MW unit to the plant. The NPP's planned Unit 7 is seen operational after 2025 due to the project's long synchronisation procedures, the country's electricity transmission system operator said in March.
Source: Darik Radio (30.12.2015)