Bulgaria's TPP Maritsa 3 cons net loss sharply drops in Jan-Sept

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)