National Electricity Company

Bulgaria's National Electricity Company (NEK) paid 2.5 times more than what is needed to pay salaries at the Cherno More mine, the Ministry of Economy has said.

The financial position of Bulgaria's National Electricity Company (NEK) is worsening and its debt already exceeds BGN 3.1 B, caretaker Energy Minister Vasil Shtonov has said.

Bulgaria's National Electricity Company (NEK) hikes the prices for companies who buy electricity from the end-user EDCs by 16%, according to an announcement on NEK's website. 

Bulgarian caretaker Deputy Prime Ekaterina Zaharieva will head the energy board to be established during Wednesday's government sitting.

According to a draft decree of the caretaker government, as cited by Sega daily, Zaharieva's Deputy will be Vasil Shtonov, caretaker Minister of Economy and Energy.

The hike of electricity prices, in a sense, is inevitable, the ex-deputy chair of the parliamentary energy committee Yavor Koyumdzhiev told the Nova TV national channel. 

The losses of Bulgaria's National Electricity Company (NEK) increased by 43% in 2013, shows its financial audit, published in the Commercial Registry. 

They amounted to BGN 142.2 M, while in 2012 they were BGN 99.4 M. 

By the end of this year the electricity prices in Bulgaria might rise again, Ilian Iliev, member of the energy watchdog DKEVR told the Bulgarian National Television. 

According to him, it probably will not be more than 3% and would most likely happen in October. 

The price hike is necessary in order to cover the deficit of the National Electricity Company (NEK). 

Bulgaria's energy watchdog (DKEVR) will discuss and set price changes for natural gas, electricity and central heating and hot water, to come into effect on July 1. 

It is expected that the price of natural gas will be decreased by 2.47% to BGN 597.69 without excise duty and VAT for 1000 cubic meters. 

Energy bills in Bulgaria might gradually go up starting October to cover deficits at the state-owned utility NEK, the state electricity regulator announced.

DKEVR, the energy watchdog, earlier announced the National Electricity Company (NEK)'s debts amount to BGN 2.4 B (EUR 1.2 B) over the past four years.

State-owned National Electricity Company (NEK) piled up debt worth BGN 2.9 B (EUR 1.45 B) in 2010-2014, energy watchdog DKEVR's chief Boyan Boev said Thursday.

Some BGN 1.5 B of the sum are unrefunded costs related to "public electricity supplies," Boev was quoted by website Dnevnik.bg as declaring at a session of DKEVR.