Major coal producer shuts down after PPA ends
ContourGlobal Maritsa-East 3 coal plant officially stopped working today. The power purchase agreement (PPA) between the plant and the state supplier - National Electric Company (NEK) has expired, announced the executive director of NEK Martin Georgiev, who took part in Energy summit 2024, organized by Kapital. The American-owned plant is the second largest coal-based electricity producer in Bulgaria, however, due to the rising costs of coal energy it is no longer viable on a market basis.
The plant shutdown carries several economic implications. First, it will probably turn into a gas plant, but another question is whether the miners from the Troyanovo 3 mine site (part of Mini Maritsa-East), who work for ContourGlobal Maritsa-East 3 will keep their jobs. About 1,700 people work in Troyanovo-3, and the three mines of the national Mini Maritsa-East mines - Troyanovo-1, Troyanovo-sever and Troyanovo-3 accommodate 6,834 workers in total.
685 million levs more taxes have been collected
Finance minister Assen Vassilev has announced that the state has collected 685 million levs more in taxes compared to the same period of 2023. The money comes from taxes, insurance and excise duties and breaks down as follows:13.9% more from taxes, 9.2% more from insurance and 11.2% more from customs and excise duties.
Vassilev also commented on the merger of the Revenue Agency and the Customs Office, pointing out that this is appropriate due to Bulgaria entering the Schengen zone, which he expects at the beginning of 2025. He said there will be a reorganization of the borders with Greece and Romania in any case.
New renewables scheme fixing old problems
The problem of lack of grid capacity for new green plants may soon be solved. The issue usually hinders investments with some investors failing to find free spots for their plants, while others - directly receive a refusal. Meanwhile, applications for new renewables have already exceeded 7000 MW.
Reform will come through legislative changes that introduce the so-called flexible connection, with which both wind and solar plants can work at the same requested power capacity. The news was announced by the chairman of the committee on energy in parliament, Delyan Dobrev, who also participated in this year's Energy summit.
The day in 3 news: ContourGlobal Maritsa-East 3 stops working; Tax collection rises, Dobrev announces new renewables grid scheme
Major coal producer shuts down after PPA ends
ContourGlobal Maritsa-East 3 coal plant officially stopped working today. The power purchase agreement (PPA) between the plant and the state supplier - National Electric Company (NEK) has expired, announced the executive director of NEK Martin Georgiev, who took part in Energy summit 2024, organized by Kapital. The American-owned plant is the second largest coal-based electricity producer in Bulgaria, however, due to the rising costs of coal energy it is no longer viable on a market basis.
The plant shutdown carries several economic implications. First, it will probably turn into a gas plant, but another question is whether the miners from the Troyanovo 3 mine site (part of Mini Maritsa-East), who work for ContourGlobal Maritsa-East 3 will keep their jobs. About 1,700 people work in Troyanovo-3, and the three mines of the national Mini Maritsa-East mines - Troyanovo-1, Troyanovo-sever and Troyanovo-3 accommodate 6,834 workers in total.
685 million levs more taxes have been collected
Finance minister Assen Vassilev has announced that the state has collected 685 million levs more in taxes compared to the same period of 2023. The money comes from taxes, insurance and excise duties and breaks down as follows:13.9% more from taxes, 9.2% more from insurance and 11.2% more from customs and excise duties.
Vassilev also commented on the merger of the Revenue Agency and the Customs Office, pointing out that this is appropriate due to Bulgaria entering the Schengen zone, which he expects at the beginning of 2025. He said there will be a reorganization of the borders with Greece and Romania in any case.
New renewables scheme fixing old problems
The problem of lack of grid capacity for new green plants may soon be solved. The issue usually hinders investments with some investors failing to find free spots for their plants, while others - directly receive a refusal. Meanwhile, applications for new renewables have already exceeded 7000 MW.
Reform will come through legislative changes that introduce the so-called flexible connection, with which both wind and solar plants can work at the same requested power capacity. The news was announced by the chairman of the committee on energy in parliament, Delyan Dobrev, who also participated in this year's Energy summit.
Major coal producer shuts down after PPA ends
ContourGlobal Maritsa-East 3 coal plant officially stopped working today. The power purchase agreement (PPA) between the plant and the state supplier - National Electric Company (NEK) has expired, announced the executive director of NEK Martin Georgiev, who took part in Energy summit 2024, organized by Kapital. The American-owned plant is the second largest coal-based electricity producer in Bulgaria, however, due to the rising costs of coal energy it is no longer viable on a market basis.
