Bulgarian state-owned thermal power plant (TPP) Maritsa Iztok 2 said that its net loss narrowed to 141.9 million levs ($85.6 million/72.6 million euro) in the first half of 2019 from 182.6 million levs in the same period of 2019.
TPP Maritsa Iztok 2's operating revenue dropped to 231.4 million levs in the January-June period of 2020 from 316.6 million levs in the comparable period of last year, the power plant operator said in an interim financial statement.
The plant sold 1,698,164 MWh of electricity in the review period, representing a 48.25% year-on-year plunge.
Operating expenses fell to 346.3 million levs in the review period from 472.5 million levs the year before, partially due to a 61.8 million levs decrease in expenses for emission allowances. TPP Maritsa Iztok 2's expenses for emission allowances amounted to 130.3 million levs in the first six months of the year, down from 192.2 million levs in the comparable period of 2019.
The greenhouse gas emission allowances are part of the EU Emissions Trading System, which works on the “cap and trade” principle. Within the cap, companies receive or buy emission allowances which they can trade among themselves as needed. Each year companies must surrender enough allowances to cover all their emissions, otherwise fines are imposed.
TPP Maritsa Iztok 2 has eight operating units with a total installed capacity of 1,620 MW.
(1 euro = 1.95583 levs)
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