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Dec 04, 2023 16:55 EEST
December 4 (SeeNews) - Bulgarian thermal power plant (TPP) Maritsa 3 [BUL:MR3] said that its consolidated net loss shrank to 12.1 million levs ($6.7 million/6.2 million euro) in the nine months through September from roughly 69 million levs in the same period last year, following a drastic decrease in expenses.
The company's total revenue declined to just over 17 million levs in January-September from 33.5 million levs in the same period of 2022, TPP Maritsa 3 said in an interim financial statement last week.
The coal-fired power plant reduced its overall expenses to 29.1 million levs from 109.8 million levs in the same period of last year, chiefly due to a drop in other expenses to 728,000 levs from 56.9 million levs. Costs for materials went down 35% on the year to 18 million levs.
The plant, which has one functioning 120-MW unit, is located in the town of Dimitrovgrad, in southern Bulgaria. Last year, it was temporarily shut down on account of breaches of environmental legislation and non-compliance with air quality standards regulating sulfur dioxide and coal dust emissions.
In November, Maritsa 3 bondholders approved a decision to extend the maturity of a 4 million levs bond by five years and to lower its coupon rate.
(1 euro = 1.95583 levs)
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