Bulgaria: No More Compromising with the Bulgarian Energy Holding, Investors
Recently AES Bulgaria, together with a number of major energy producers and electricity distribution companies, created the National Energy Chamber (NEC), which in AES Bulgaria CEO said will be working towards legal representation of energy producers in Bulgaria
If the deal with the state-run National Electricity Company (NEK) fails, we will be forced to take the matters to court, Olivier Marquette, CEO of energy company AES Bulgaria told Bloomberg TV Bulgaria on Monday. Marquette referenced the agreement that AES signed with the state-owned company a year ago, which would guarantee that NEK would pay the BGN 600 m (about EUR 300 m) it owes. In exchange AES Galabovo TPP will introduce a discount to its availability price. The power plant will also be able to pay the state-owned Maritsa East Mines.
Marquette stated that the loan negotiation process of NEK’s parent structure – the Bulgarian Energy Holding (BEH) – were in their final phase. He said he expected the deal to be finalised in April.
Recently AES Bulgaria, together with a number of major energy producers and electricity distribution companies, created the National Energy Chamber (NEC), which in Marquette’s words will be working towards legal representation of energy producers in Bulgaria.
Olivier Marquette went on to express his support for the energy market reforms in the country.
“Long-term interests should be compatible with the liberalised market. There are many good examples in Europe how our companies can adapt to it”, Marquette told Bloomberg TV Bulgaria.
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