/ world today news/ The state-owned National Electricity Company (NEK) reported a record high loss of BGN 250.25 million for the first six months of the year. This is shown in the report of the company, published on the website of the Ministry of Finance.
For comparison, from January to June 2013, the company reported a profit of BGN 17.23 million. However, it turned out that the positive result of last year was artificial.
In the new report, it is noted that 12 months ago, NEK payments to the American plants “AES Galabovo” and “ConturGlobal Maritsa East 3” were not reflected. If these liabilities had been taken into account, the financial result of NEK would have been a loss of BGN 156 million.
According to the NEK report, there are two main reasons for the poor financial result this year. The first is that the company mainly buys expensive electricity from American and green plants to sell it cheaply to households.
The cheap electricity from Kozloduy NPP and Maritsa East 2 TPP goes mainly to the free market and not to households, NEK explains. Separately, there is an overproduction of electricity in the country, because of which the company cannot buy the entire amount of electricity from the American plants and pays them penalties.
Due to the bad calculations of the State Commission for Energy and Water Regulation, NEK reports a hole of BGN 171 million. It is formed by the wrong accounts for revenues from carbon emissions.
According to the company’s report, the company is in dire financial condition and is experiencing serious difficulties with payments. Although the price of household electricity, at which it sells to CEZ, EVN and “Energo Pro”, has jumped from BGN 85.19 per megawatt hour to BGN 130.12, the company still cannot cover its costs.
There is no money for an electrical network
The Electricity System Operator (ESO), which manages the high voltage network, also reported a loss of BGN 40.02 million. The reason is the reduced price for transmission on the network, writes “Trud”.
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