site.btaNEK Saves BGN 170 Mln Annually from Highly Efficient Energy and Lower Gas Prices

NEK Saves BGN 170 Mln Annually from Highly Efficient Energy and Lower Gas Prices

Sofia, February 16 (BTA) - The National Electric Company (NEK) saves 170 million leva annually due to the drop of the natural gas prices and the purchase of highly efficient energy, generated by the heating utility companies, Energy and Water Regulatory Committee (EWRC) Chairman Ivan Ivanov commented before journalists Tuesday.

Ivanov explained that the economies from the purchase of highly efficient energy amount to 130 million leva and the ones from the lower natural gas prices bring additional savings of 40 million leva.

Earlier on Tuesday EWRC had a meeting with the management of Bulgargaz, which is to submit its final estimate about the natural gas price for the second quarter of 2016 on March 10. "In my opinion, they will propose a reduction, which will be over one per cent higher than the current estimate of 20.64 per cent," Ivanov said.

The European Commission has not yet pronounced itself on an EWRC report regarding the long-term purchase of energy from the US-owned plants of the Maritsa East energy complex. The Commission opinion is expected in the following months.

Ivanov said he is optimistic that the Bulgarian Energy Holding will find the necessary credit so that NEK would be able to pay its obligations to the two US-owned Maritsa East thermo-electric power plants.