Electricity hits record high price of BGN 400 per megawatt-hour on the Bulgarian Power Exchange

Large industrial companies in Bulgaria stop operating due to record high electricity prices, warned the Association of Industrial Capital in Bulgaria on August 4. A record of BGN 400 per megawatt-hour on the free market was set today. "There is Such a People" party accused the management of the Bulgarian Energy Holding of inaction and called on the caretaker Minister of Energy to order the turn on of additional capacity for electricity generation from state-owned power plants.

A record price of electricity on the Power Exchange of BGN 400 per megawatt-hour provoked a sharp reaction from the business. The Association of Industrial Capital demanded the resignation of the entire BEH management, urgent import of electricity, restriction of the export of electricity to Greece and immediate start of operation of the state-owned TPP Maritsa East 2 at full capacity.

It is not justified not to activate additional capacities that are not working now and are in reserve. Because at this price of electricity they will work at a profit and will cover their total annual loss in this way, said Dobrin Ivanov, executive director of the Association of Industrial Capital in Bulgaria.

"There is Such a People" party warned that the energy exchange has been in chaos for days, unmanageable liquidity and low electricity supply.

The party has asked the state-owned TPP Maritza Iztok 2 to turn on additional capacity, as it now operates at only 25% of its capacity.

There is coal, there is capacity, there are opportunities. The issue is the strange inaction of the Bulgarian Energy Holding, which for me personally is a sabotage of the Bulgarian industry, said Ivan Hinovski, ITN.

BEH stated that they understand the complex situation and the concern of employers and politicians, but it is not so easy to quickly switch on or off a unit, as technological time is needed.

Currently, TPP Maritsa East 2 is working with three units and is preparing the fourth to start a parallel operation, said Valentin Nikolov, Executive Director of BEH.

Due to the expensive electricity,the Factory for Non-Ferrous Metals in Plovdiv, Progress AD (a leading Bulgarian company in the processing of metals and metal casting) in Stara Zagora and several foundries in the country stopped working today.