National Electric Company

Power distributor CEZ Bulgaria EAD has reported a negative financial result of nearly BGN 11.6 M in the first half of 2014.

CEZ Electro Bulgaria AD reported a loss of nearly BGN 6.6 M, while CEZ Distribution AD registered a loss of around BGN 5 M in H1, 2014, according to a media statement of the company.

Bulgaria is the poorest EU member state and the one plagued by the lowest rate of energy security, according to a report of local NGO Center for the Study of Democracy (CSD).

The CSD used data of the U.S. Chamber of Commerce's Institute for 21st Century Energy for the 75 largest energy-consuming countries.

Seven ambassadors have expressed concern in a letter to the Bulgarian Parliament Speaker over restrictions proposed by the State Commission for Energy and Water Regulation (DKEVR).

The letter, signed by the ambassadors of Austria, UK, the Republic of Korea, US, France, the Czech Republic, and Japan, was submitted to Parliament on June 30, according to reports of Sega daily.

The Confederation of Independent Trade Unions in Bulgaria (CITUB) has insisted on the urgent adoption of key laws before the dissolution of Parliament.

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) will present Thursday current data on the financial deficit in the energy system.

Bulgaria's energy watchdog has sought changes to the contracts with US-owned thermal power plants AES-3C Maritza East 1 EOOD and Contur Global Maritsa Iztok-3.

Ivan Genov, CEO of Bulgaria's Kozloduy nuclear power plant, has said that it cannot export electricity to Turkey.

In a Sunday interview for the Bulgarian National Radio (BNR), he explained that unit 5 of the N-plant was undergoing a planned annual overhaul and only unit 6 was operational.

Deputy Economy and Energy Minister Ivan Ayolov has suggested that center-right party GERB should be held accountable for the record-high debts of the National Electric Company,NEK.

The European Commission has expressed concern over the ongoing License suspension procedure for three power distributors in Bulgaria, hinting at possible penalty measures.

Economy and Energy Minister Dragomir Stoynev informed that the National Electric Company (NEK) had not received payments from the power distributors by Tuesday.