Bulgarian caretaker Prime Minister Stefan Yanev said that state-owned coal-fired thermal power plant Maritsa East 2 will not shut down as of 1 July, but it will operate at minimal capacity.
He explained that the state cannot fully support the plant, adding that the its management must find a way to operate under market principles. caretaker PM Yanev compared the work balance of TPP Maritsa East 2 and the price of electricity in Bulgaria to a moving target, sometimes it is favorable and sometimes not.
According to him, no solution can be found in two weeks or two months, but the country will also look for a solution within the National Recovery and Resilience Plan.
Earlier in June, caretaker Energy Minister Andrey Zhivkov said that the Government will propose a short-term solution so that TPP Maritsa East 2 could continue to operate after 1 July. The Energy and Water Regulatory Commission (KEVR) has warned that as of 1 July, TPP Maritsa East 2 will not be allocated a quota to transact on the regulated market (for household customers) because the electricity it produces is too expensive (over 107 euros/MWh). The plant cannot sell electricity on the energy exchange IBEX either, considering that prices there have averaged around 57 euros/MWh. Wit
h its eight units, the state-owned TPP Maritsa East 2 is Bulgaria’s largest coal-fired power plant. A baseload generating capacity, it has been in operation since 1969. According to the company’s annual financial statements, it recorded losses every single year between 2014 and 2019, and its accumulated losses now add up to 470 million euros. For 2020, TPP Maritsa East 2 reported a record-large loss of 174 million euros.
