The Bulgarian Energy Holding doubles its profit

A National Information System for Renewable Energy Consumption will be developed by the Ministry of Economy, Energy and Tourism, announced its officials. The System will become operative after the approval of a special ordinance. The new structure will show the potential, generation and consumption of domestic renewable energy. The Information System will be controlled by the future Sustainable Energy Development Agency. The Economy Ministry has already announced the opening of a public procurement tender for contracting consultants, who will propose schemes for the development of the Bulgarian heating and gas sectors by 2020. The State Energy and Water Regulatory Commission, in turn, will consider tomorrow the prices for green energy generated by plants, funded under EU grant programmes. The State Regulator proposed that the electricity generated by these facilities should be sold at prices depending on the share of subsidy in the total investment.

The profit for the first six months of 2011 of the state companies under the umbrella of the Bulgarian Energy Holding increased by 102.9%, announced investor.bg. The BEH itself reported a positive growth of 148% in its non-consolidated profit worth BGN 228 mln, which was accrued primarily as a result of the dividend income of BGN 214 mln. For the same period, BEH has reimbursed the state with dividends worth BGN 57 mln. The most profitable companies, controlled by the Energy Holding, are NPP Kozloduy, which registered a profit of BGN 106 mln, and the Electricity System Operator EAD with a profit of BGN 92 mln. The National Electricity Company earned a total of BGN 49.5 mln in six months. According to the financial report, solely Bulgargaz registered a loss of BGN 3.7 mln. Actually, the gas provider is indebted with over BGN 160 mln to companies incorporated in the BEH structure. The profit of the gas transmission operator Bulgartransgaz SPLTD, in turn, amounted to BGN 45.8 mln.

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