NEK will save about 1 billion BGN after the amendments in the agreements with TPP "AES Maritsa East 1" and TPP "Contour Global Maritsa East 3"
The National Electric Company is expected to save about 1 bln BGN until the expiration of the long-term agreements with TPP "AES Maritsa East 1" and TPP "Contour Global Maritsa East 3". This has become possible after today’s official ceremony in the presence of Bulgarian Prime Minister Boyko Borisov and the Minister of Energy Temenuzhka Petkova when amendments to the existing long-term agreements with both TPPs have been signed.
The newly agreed amendments stipulate a decrease in the capacity price according to the two agreements, respectively 17% with TPP "Contour Global Maritsa East 3" and 14% with TPP "AES Maritsa East 1", while the duration of the agreements remains unchanged. NEK is committed to pay out the full amount of its arrears to the TPPs, which is 700 mln. BGN in total. The compromised achieved is a precedent in the Bulgarian energy sector.
"This day is extremely significant for the entire energy sector, since there have been discussions for the revision of the agreements for nearly two years, but no results have come out until today. I’m glad that our team managed to reach these agreements that will benefit the reduction of the financial deficit in the system" the Energy Minister Temenuzhka Petkova said following the signing of the amendments. She underlined that the agreed amendments will not result in the decrease of the electricity price, but in the stabilization of NEK.
Prime Minister Boyko Borisov expressed gratitude to the partners from both American power plants for the constructive dialogue during the talks, which made possible this crucial step to the stabilization of the energy system to happen.
"The negotiations were difficult, but we succeeded in reaching an agreement, because we trust your Government is determined to stabilize the energy sector", the President of "AES"- Europe, Julian Nebreda, pointed out.
"Our partnership continues with this deal. We have reached a good compromise and we are convinced the Government will persist in reforming the energy sector" the CEO of "Contour Global Maritsa East 3", Garry Levesley, said.
U. S. Ambassador to Bulgaria H.E. Marcie Ries highlighted that the signing of the agreements will contribute to the establishment of a positive image of Bulgarian business environment and will attract more American investors in the country.