National Electric Company

The Gorna Arda hydropower complex project has not been frozen despite the fact that the launch of construction works has been delayed for almost a year, according to Werner Casagrande, Chairperson of the Management Board of Hydropower Company Gorna Arda AD.

Bulgarian Vidin-based car tyre maker Vidachim has downsized the scale of planned staff cuts from 314 to 150.

The new plans were announced on Monday after a meeting of Energy Minister Temenuzhka Petkova with workers and senior executives of the plant.

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.

The deficit at Bulgaria's National Electric Company (NEK) stands at BGN 3.3 B, while the current deficit for 2014 amounts to BGN 600 M, according to Energy Minister Temenuzhka Petkova.

Petkova visited Sunday the Maritsa Iztok Mines (Mini Maritsa Iztok EAD), Bulgaria's largest coal mining company.

No candidates to buy the bankrupt Vratsa-based fertilizer plant Chimco AD, also known as Himko AD, showed up in the second open tender.

The price tag, at BGN 22.8 M, had been reduced by slightly over BGN 6 M from the previous tender held in 2014, according to reports of the Bulgarian Telegraph Agency.

The bid increment had been set at BGN 1 M.

Bulgaria's energy sector is in a state of financial collapse and in need of urgent and adequate measures, according to Minister Temenuzhka Petkova.

Petkova warned in a Sunday interview for the Bulgarian National Radio that rescuing the energy sector, and therefore the entire economy, could require unpopular steps.

Power distributor EVN, which services southeastern Bulgaria, has been imposed a fine of BGN 1 M.

A Kuwaiti company has expressed interest in the Belene nuclear power plant project, according to Bulgaria's Energy Minister Temenuzhka Petkova.

Petkova, as cited by Standard daily, made clear that the authorities were to collect more information about the company and its experience in the sphere of nuclear energy in particular.

Heating utility Toplofikatsiya Sofia has run up debts of BGN 627 M in unpaid gas bills.

The major portion of the debt, BGN 500 M, is to be paid to the Bulgarian Energy Holding (BEH), while the remaining sum of BGN 127 M is owed to state-owned gas supplier Bulgargaz.

The sale of shares from companies of the Bulgarian Energy Holding (BEH) is foreseen in the medium term.

This is still at the stage of conception, as becomes clear from a document of the Energy Ministry, investor.bg reports.

The idea for listing part of the shares of the state energy companies at the stock exchange emerged in 2009, but later faded.