August 7 (SeeNews) - Bulgarian state-owned thermal power plant (TPP) Maritsa Iztok 2 said that its net loss widened to 145.0 million levs ($83.2 million/74.1 million euro) in the first half of 2019 from 124.2 million levs in the same period of 2018.
TPP Maritsa Iztok 2's operating revenue grew by an annual 23.15% to 354.3 million levs in the January-June period of 2019, the power plant operator said in an interim financial statement.
The plant sold 3,281,313 MWh of electricity in the review period, 8.28% less than a year earlier. The lower sales volume was offset by higher prices on the Independent Bulgarian Energy Exchange.
Operating expenses increased to 472.5 million levs in the review period from 394.1 million levs the year before, due to a rise in expenses for emission allowances. TPP Maritsa Iztok 2's expenses for emission allowances amounted to 192.1 million levs in the first six months of the year, up from 115.3 million levs in the comparable period of 2018.
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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