Bulgaria's energy market overregulated, businesses say Bulgaria holds a tight grip on its energy market and there is no real competition in the sector, Bulgarian Industrial Association chairman Bozhidar Danev said, and called for new, flexible power rates and new rules. His statement came a week after the European Commission told Bulgaria that it would trigger an infringement procedure for violations of the electricity directive and setting allowances for exports to the national grid at preferential tariffs. Power retailers association chairperson Roumyana Georgieva said that at least 40 per cent of the market should be deregulated. We hear the talk every year but nothing ever changes, Georgieva said. Power companies estimated that only 20 per cent of their output is sold at free prices. Extra volumes are thus offered at very high prices of up to 260 to 270 leva a MWh, CEZ Trade Bulgaria executive director Vladimir Dichev said. Although they may end up with spare volumes, companies usually order 20 per cent extra supplies, which threatens the market, Dichev said. BIA urged the Government to only regulate the buy-out prices under long-term contracts with the investors in the construction and upgrade of power stations at coal miner Maritsa East. The deal with US firm AES for Maritsa East 1 lignite-fired power plant was signed 10 years ago and runs for 15 years, the same duration as the contract with Italian Enel for Maritsa East 3. The agreement for coal-fired power station Maritsa East 2 also has a 15-year term.
Source: Dnevnik (26.02.2009)

Titan Power and Toplosnabdyavane Shoumen are the only companies that purchased papers to participate in the sell-off of the district heating utility in Shoumen, eastern Bulgaria, the Privatization Agency announced. The open-bid tender will take place on June 19 with an indicative price of BGN 9.7 million and a minimum bid increment of BGN 200,000. Last year’s attempt at the sale of the utility fell through as no bidders showed up. The wretched financial state of the company put off French Dalkia Bulgaria, which owns the heating utility in the coastal city of Bourgas, and coal-fired power plant Maritsa East 3, a unit of local businessman Hristo Kovachki. Titan Power is owned by Global West Group Bulgaria and Moran Resources.
Source: Dnevnik (08.06.2009)

Thermal Power Plant-Maritsa 3-Dimitrovgrad, Bourse code 6TM, the General Meeting of which was held on June 15 2009, shall not distribute dividends for 2008. Thermal Power Plant-Maritsa 3-Dimitrovgrad reported a profit to the amount of BGN 421 000.
Source: Capital market (17.06.2009)