Former economy minister Traicho Traikov: There are no reserves for cheaper electricity

“There are almost no reserves for reducing the price of energy along the chain. The electricity distribution companies (EDCs) operating the medium and low voltage grid generate a very small part of the electricity bill consumers pay - between 10 – 15%. The remaining 85-90% is in generated in the power plants and the high voltage grid of the National Electric Company (NEK),” former Minister of Economy, Energy and Tourism Traicho Traikov told bTV on Wednesday. According to him, the decrease in the price of electricity announced by PM Boyko Borissov yesterday can only happen if all the electricity from the Kozloduy NPP is included in the energy mix.

“In order to increase the share of the Kozloduy NPP, the three thermoelectric power plants of Kovachki should be taken out. Maritsa Iztok 1 and Maritsa Iztok 3 have long-term contracts and cannot be taken out,” added Traikov.

“But if all the electricity from the Kozloduy NPP is included, the plant’s profit will fall drastically and the State will not be receiving BGN 150 mln in dividend. If this plan is activated, the industry will remain without cheap electricity,” explained Traikov.

The three plants that will be taken out of the energy mix will not be able to sell electricity on the open market. According to Traikov, this will be correct and moral in principle because their prices rose dramatically when they invested in FGD systems.

Traicho Traikov added that electricity in Bulgaria is three times cheaper than in the entire EU but the bills are still unaffordable to consumers.

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