Bulgarian Power Utility NEK Loss Widens To 173 mln Euro In 2013

Bulgaria’s state-run electricity company NEK posted a loss of 338 million levs ($236 million/173 million euro) in 2013, local media reported on Monday.

The company's poor financial performance is the result of shrunken power consumption in the country and a drop in electricity prices for end-customers regulator, daily Trud reported, quoting an unnamed source from the  economy ministry.

The daily did not specify if the loss figure refers to net or gross financial results. In 2012, NEK's loss amounted to 99 million levs, according to Trud.

(www.hbcbg.com)