In the first half of 2022, Bulgaria’s state-owned coal-fired thermal power plant tripled production, while revenues increased nine times.
In the first six months, TE Marica Istok 2 recorded the best financial result in history and from the energy company with the biggest loss became one of the most profitable, with a net profit of 338.6 million leva (173.1 million euros).
This reversal is the result of high stock prices and enormous exports of electricity from Bulgaria. Thanks to this, the coal-fired thermal power plant, which until recently operated at only 20% capacity because it could not sell the generated electricity due to high costs, is now able to market its total production.
The data shows that in the first six months of 2022, more than 4.3 million MWh were sold, as much as for the whole of last year. The largest part of electricity was offered on the stock market, while in 2021 the regulated market had the largest share.
Better market conditions for electricity producers are most clearly reflected in revenues. TE Marica Istok 2 achieved a historic result of 1.7 billion leva (869 million euros) from January to June, compared to only 190 million leva (about 97 million euros) in the same period in 2021. While sales increased threefold, income was ninefold.
However, the accumulated loss of the company remains at a high level of 948 million leva (485 million euros), and liabilities – 1.4 billion leva (716 million euros).
Out of a total of BGN 1.35 billion (€690 million) spent in the first half of the year, almost BGN 907 million (€463 million) was spent on CO2 permits.
Emissions costs have increased four times since 2021. At the beginning of this year, the quotas hovered above 80 euros per ton, and after the start of the conflict in Ukraine, there was a sharp drop to 65 euros, and in mid-August an absolute record of 99 euros per ton was reached. . Currently, CO2 emissions are traded at a level of around 75 euros.
Source: capital.bg
