After the business revolt over electricity prices, the ministry and BEH explained

TPP “Maritsa East 2” Photo: Archive

Andrey Zhivkov’s department closely monitored the situation with the state TPP, but the operational activity was the task of the plant and BEH.

The holding clarified that they are a financial structure and cannot interfere with TPP “Maritsa East 2”

After the business’s letter to Prime Minister Stefan Yanev and their warning that they were suspending production due to record electricity prices and that they were protesting, the Ministry of Energy and BEH sent messages to the media.

The Ministry of Energy, whose caretaker minister is Andrei Zhivkov, says that as of yesterday, August 3, a third unit of the plant – 210 megawatts – has been put into full capacity (as of now, it has worked with two units – one to cover production under the allocated quota of 1 million megawatt hours of electricity for the regulated market and the second – for the free market).

The amount of electricity produced is sold today on the Day Ahead market of the Bulgarian Independent Energy Exchange. As a result of this inclusion, the price of the day-ahead segment of the IBEX is already BGN 258 / MWh, which is a decrease of about BGN 70 yesterday’s values.

The management of the Ministry of Energy believes that in such a market situation the tec should work at the maximum possible technical capacity – on the one hand, this will provide revenue for the company, and on the other hand will reduce pressure on consumers from high electricity prices. Despite the fact that these are tasks of the operational management of the company, which is a commitment of both its management and the management of the Bulgarian Energy Holding, the Ministry of Energy closely monitors the situation and takes active measures for the inclusion of TPP “Maritsa East 2” on the free market in the current market situation “, the press release reads.

That is, the department, which is the principal of the Bulgarian Energy Holding and owns the state-owned company, reports that it is closely monitoring the situation, but in principle this is the task of the management of the plant and BEH.

Immediately after the announcement of the ministry, BEH’s position reached the media.

It says that “Bulgarian Energy Holding” monitors with concern the prices of electricity traded on the Bulgarian Independent Energy Exchange. Regarding the information displayed in the public space, we would like to inform you that currently in Bulgaria there are 5800 megawatts of generating capacity. Exports vary around 900 megawatts per hour. This circumstance creates a deficit and shifts the supply and demand curves to high price levels in the Day Ahead market segment.

Please note that Bulgarian Energy Holding EAD is structured as a financial holding company, within which the subsidiaries retain their operational independence. Bulgarian Energy Holding EAD does not have the authority to determine the market behavior of the companies in the group. The possible interference in their commercial activity will impair the operational independence of the companies, and these actions of the holding may constitute market manipulations in violation of REMIT.

Observing its competence, Bulgarian Energy Holding EAD has concluded a framework agreement for purchase and sale of greenhouse gas emission allowances with TPP Maritsa East 2 EAD on July 16, 2021 to ensure the smooth operation of the plant. Currently, three of the power units are operating, and a fourth is ready to go into parallel with Bulgaria’s electricity system.

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