Bulgaria's Anti-trust Regulator Gives Go-ahead to Setting up Energy Megastructure

The future Bulgarian Energy Holding (BEH) will incorporate assets of five state-run companies: Bulgaria's sole nuclear power plant Kozloduy, gas company Bulgargaz, power grid operator NEK, coal-fired power plant Maritsa East 2 and the Maritsa East coal mines. The new holding company is expected to become operational by the end of the year.

"Each of the companies will keep the option to determine its market behaviour independently, will independently develop and implement operational strategies to meet the financial goals set up by the holding company, will keep its personal licences and scope of activities and will continue to be idependent from BEH and other companies,” the Commission for Protection of Competition (CPC) said in a statement.

BEH will not develop its own production or trade activity, the regulator added.

The government hopes the future megastructure will help the country restore its role of a leading power exporter in southeastern Europe, which Bulgaria lost after closing down two reactors of 440 MW each at the Kozloduy power plant under pressure from the EU.