Opposition Accuses Incumbents of Lying about Electricity Agreements

Sofia, April 15 (BTA) - The opposition Bulgarian Socialist Party
(BSP) on Wednesday accused the incumbents of lying about the
effect of an April 8 revision of the agreements of the National
Electricity Company (NEK) with two US-owned thermal power plants
in Bulgaria, Maritza East 1 and Maritsa East 3.

BSP's Yavor Kouyumdjiev said it was announced that the revision
will entail a 30 per cent reduction of the price of electricity,
which, Kouyumdjiev said, is a brazen lie. "This is just plain
publicity aimed to cover up the powerlessness of the incumbents
in addressing the problems in the energy sector," the former
deputy economy and energy minister said.

The revision is not about cutting the price of electricity, but
about reducing the capacity disposition price paid by NEK to the
two thermal power plants, he said. The change will not affect
in any way the price of electricity paid by households or
businesses, he argued.

The original official announcement on April 8 was that the
revision of NEK's agreements with Maritza East 1 and Maritsa
East 3 reduced the capacity disposition price paid by NEK to the
two plants. It was estimated that the reduction will save NEK
nearly 100 million leva every year or about one billion leva
over the remaining ten years of the agreements' term of
validity.

Kouyumdjiev further noted that the revision will not become
effective until NEK pays off the full amount of its debt to the
two US-owned plants. The debt is 700 million leva and will
increase to 900 million leva by June, he said. "Where will they
get that money?" he wondered.