Temenuzhka Petkova: The dialogue with business to tackle the energy gap
The financial gap in the energy is really very serious and there is no way to be overcome without involving all interested parties. Thus, the dialogue and the joint efforts towards principles and practicable solutions is a guarantee for success of the reforms in the sector. That was declared by the Minister of Energy Temenuzhka Petkova before the participants in the ninth annual meeting of business with the government organized by the Capital newspaper in a partnership with the American Chamber of Commerce in Bulgaria, the German-Bulgarian Chamber of Commerce, French-Bulgarian Chamber of Commerce and Industry.
More than BGN 3 billion is the accumulated deficit in the NEC, and the current for the 2014 is of BGN 598 million, outlined Minister Petkova. This necessitates urgent decisions to normalize the work of the sector. Minister Petkova told the participants in the forum about a package of measures, which the Ministry of Energy has been working on, as combined into two main groups - those ensuring financial recovery of the sector and measures for energy independence.
The renegotiation of the terms under long-term power purchase agreements signed with TPP AES Maritza East 1 and TPP Contour Global Maritsa East 3 is one of the measures in the first group. "We are leading a very good dialogue with our American partners, who are among the largest investors in the energy sector," said Minister Petkova expressing hope that positive results of these negotiations would be achieved by the end of March.
The audit of the major companies in the sector is another very important task that should clarify the real status and the need for subsequent decisions. According to Minister Petkova, the NEC and the thermal power plants in the Maritsa East complex are under audit, and the other companies within the sector are subject to further audit as well.
One of the main priorities and focus in the work of the Ministry of Energy in terms of energy independence is the exploration of our own deposits of energy resources. Petkova reminded the forum participants of procedures already launched for prospecting and exploration in Silistar Block 1-14 and Teres Block 1-22 in the Black Sea shelf. The initial geological studies gave rise to optimistic expectations for significant yield. According to Petkovа, leading companies in the sector have already expressed an interest in the competition.
The construction of gas interconnectors with neighboring countries will ensure energy independence of the country and motivate the active work of the government for their implementation, said Minister Petkova. She announced the decision taken at the beginning of the year on signing a new agreement for the implementation of the project for gas interconnection with Greece, which will provide real diversification not only of the route, and the resources of natural gas supply to Bulgaria, Southeast Europe and the EU. Considering the geostrategic importance of this project, the Bulgarian side considers that even the whole project could be funded by the EU. This issue was already raised before our European partners during the meeting with Commission Vice-President Šefčovič held last week, when we received understanding in that respect, said Petkova and announced that a final investment decision for the project is expected to be taken by the end of May. This is a clear signal of the government's intentions in this direction, concluded Minister Petkova.