Bulgarians pay 3% higher electricity bills because of the Galabovo AES

Georgi Velev

“Bulgarians currently pay 3% higher electricity bills because of the approved price of the electricity produced at the American Thermoelectric Power Plant (TPP) AES Galabovo,” said yesterday Lilly Mladenova, Head of the Electricity Directorate at the State Energy and Water Regulatory Commission (SEWRC). The price of electricity, which all users in the country pay, has covered this appreciation since July last year but the American plant is still not operational. “According to the schedule, the first unit of the TPP had to be switched to the country’s electricity grid last September and the second one - a month later, but both facilities do not operate because they have a serious technological problem,” explained SEWRC Chairman, Angel Semerdjiev.

AES has signed a 15-year long-term contract with NEK (National Electricity Company) for the supply of electricity from the plant in Galabovo at a price of BGN 126.75 per MWh, so far the highest in the country. The managers of the American company were not immediately available for comment yesterday.

According to Semerdjiev, it is not clear how long the contractor of the project will not be able to address the problem. The main contractor is the Alstom Power Company.

Because of the delay, the American company is paying penalties to NEK and due to the higher rates approved, included in the energy mix for end users, the public provider has higher revenues. NEK buys electricity from plants and sells it to the Electricity Distribution Companies which are in charge of the supply to end users.

“The company's revenues will be adjusted through the new prices of electricity which have to be introduced in July,” promised Semerdjiev. He added that this problem will lead to a smaller increase in electricity prices for the next regulatory period. SEWRC officials did not specify whether this would lead to cheaper electricity for consumers.

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