Bulgarian coal-fired power plant Maritsa 3 [BUL:6TM] said on Friday it will issue 5.0 million levs ($3.4 million/2.6 million euro) in five-year non-convertible bonds. The plant will issue 5,000 bonds with a par value of 1,000 levs, equal to their sale price, and a fixed annual interest rate of 6.5%, the thermal power plant (TPP) said in a statement to the Sofia bourse. The issue will be considered successful if investors subscribe for at least 1,000 bonds. The decision was adopted at an extraordinary shareholders meeting held on January 8.
Source: money.bg (14.01.2013)

The State started a crusade against the electricity distribution companies. Prime Minister Boyko Borisov orderes all institutions to check the companies and the regulator. Prosecutors did self-referral after complaints of dissatisfied citizens and media publications and also ordered an urgent review. Public Prosecutions will monitor the legality of acts and activities of the State Energy and Water Regulatory Commission as a specialized supervisory authority under the Energy Act and related regulations. Energy Minister Delian Dobrev said that the method of pricing has to be reviewed. That does not only apply to EDCs, but to all the companies in the chain, which determines the tariff of electricity to the end user. He was annoyed by the fact that currently the price includes TPPs with expensive electricity and it is not clear why they are there. Besides the American plants AES Galabovo and ContourGlobal Maritsa East 3, are included the relatively expensive TPPs Bobov Dol, Brikel and Maritza 3 Dimitrovgrad ( all owned by Hristo Kovachki).
Source: Standart (14.02.2013)

BDZ Freight Services with collapse of revenues BDZ Freight Services is continuing to accumulate huge losses, added to the fact that its market position has worsened dramatically in the first quarter of the present year. For the period January-March 2013 revenues of the freight department of the state railway carrier has decreased by BGN 6.242 million, which is equal to 18%, as compared to the same period of 2012. Still bigger is deviation from the business plan of the company- revenues are more than BGN 7.2 million beneath projected levels. BDZ Freight Services has transported 1.9 million tons of goods in the first three months of the year, which is nearly 400 000 tons down as compared to the same period of 2012. Negative effect on the company’s activity has the decrease in consumption of electricity over the country. This is the reason why coals are stagnating in warehouses of several companies among which are Thermal Power Plant Bobov Dol and TPP Maritsa 3.
Source: Trud (18.05.2013)

For the first three months of the year TPP Maritsa 3 reported a loss to the amount of over BGN 1 million ÒÅÖ Ìàðèöà 3 ÀÄ TPP Maritsa 3 AD reported a loss for the first quarter of the year to the amount of BGN 1.084 million. Total revenue of the company are to the amount of BGN 8, 428 million., which is more by 394.02 % as compared to previous month. Total expenditure reports an increase of 129.65 %, as compared to last period and are assessed to BGN 9 512 thousand.
Source: Class (21.05.2013)

TPPs begin urgent repairs 12 thermal power plants in the country have to make big investments in FGD installations and improving technologies to reduce atmospheric greenhouse gases. These are all large thermal power plants - Bobov Dol, Brikel, Maritza 3, Dimitrovgrad, state-owned Maritsa Iztok 2, AES Galabovo and ContourGlobal Maritsa East 3 and a few factory stations. Otherwise, Bulgaria is threatened to be condemned by the EU and to pay EU sanctions of tens of millions per month. There is an ongoing penalty proceeding against Bulgaria. It is in the phase of study before court, said the Minister of Environment and Water - Iskra Mihailova. After the regular meeting of the Council of Ministers, Mihailova presented the joint report of her Ministry and the Ministry of Economy containing measures to reduce emissions.
Source: Monitor (15.08.2013)

Bulgarian energy boss back in court for BGN 16m tax evasion Following a decision of Bulgaria's Supreme Court of Cassation, the case against Bulgarian energy boss Hristo Kovachki over charges of BGN 16 million tax is back in court just a year and a half after the businessman was acquitted. The three-judge panel of the Supreme Court, headed by Judge Ivan Nedev, returned the case to the Court of Appeal for reconsideration sue to alleged procedural breaches. Kovachki, whose party failed to win seats in 2009 parliamentary election, has diverse business interests, ranging from manufacturing to banking and from energy to retail, novinite.com noted. Owning the Thermal Plants "Maritsa-Iztok 3" in Dimitrovgrad and "Bobov Dol", several mines, as well as the heating utilities in Vratsa, Burgas, Veliko Tarnovo and Pleven, the grocery chain "Evropa" and the "Atomenergoremont" company, Kovachki is believed to be one of the richest men in the Balkans, novinite.com informed. The media outlet also noted that if found guilty, part of Kovachki's propertycould be confiscated.
Source: Standart (12.09.2013)

Bulgarian Thermal Power Plant Contur Global Fined over Air Pollution Thermal power plant Maritsa Iztok 3 (ConturGlobal) has been fined slightly over BGN 64 000 by a Bulgarian regional environmental inspectorate over air pollution. The fine imposed on the TPP over sulphur dioxide emissions exceeding admissible levels is mentioned in a report presenting all inspections conducted by Bulgaria's Ministry of Environment and Water in September. According to the report, as cited by investor.bg, the heating utility in the western town of Pernik, Toplofikatsiya – Pernik was also penalized over air pollution for failing to limit unorganized emission concentration of dust. According to the report, heating utilities were not the only source of air pollution. Penalties for such violations were imposed on Veliko Tarnovo-based firm Patni Stroezhi (Road Construction) EOOD, Shumen-based vegetable oil plant "Rosa", and the asphalt facility of Bulgarpatstroi AD near Burgas. The emphasis of the inspections in September was water conservation, according to the Environment Ministry. Penalties over improper wastewater disposal were imposed on the Belovo Paper Mill that has violated the permit for discharge of wastewater and Fikosota Sintez OOD company for disposal of wastewater that has not passed through a treatment plant. In September 2013, Environment Ministry officials inspected over 1500 sites issued 79 statements of offence and 626 instructions on how to deal with irregularities.
Source: investor.bg (28.10.2013)