09/08/15 16:20
(http://www.klassa.bg/)

Bulgarian Energy Holding Unlikely to Get Back its 140 Million Leva from Corpbank

 Energy Minister Temenouzhka Petkova predicted on Tuesday it is little likely that the Bulgarian  Energy Holding will be able to recover its 140 million leva from the failed Corporate Commercial Bank (Corpbank), and this will have an adverse impact on the entire energy sector.

Petkova said that the financial deficit of the National Electricity Company (NEK) amounts to 3.7 billion leva, including 2.3 billion leva in unreimbursed expenses for the projects for the Belene nuclear power plant and the Tsankov Kamuk hydroelectric power complex. About 1.4 billion leva of the deficit has resulted from the current regulatory policy which makes NEK buy electricity at higher prices than its own selling rates.

Russian gas giant Gazprom has not expressed in writing its official definitive position about the future of the South Stream gas pipeline project, which is why the Bulgarian government cannot say what will happen, the Minister went on to say.

Earlier in the day, the Energy Minister visited the central town of Gabrovo to review other projects approved for funding under the EEA/Norway-backed Energy Efficiency and Renewable Energy Programme.

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