US-owned TPP AES Bulgaria Finalizes Agreement with National Power Utility

US-owned thermal power plant AES 3C Maritza East I and Bulgaria’s National Electric Company (NEK) have finalized the agreement on amending the long-term contract for purchasing electricity generated by the TPP.

The agreement was negotiated in April and it concerns the capacity price of AES 3C Maritza East I, according to a media statement of the US-owned TPP.

Once the agreement enters into force, the capacity price will drop by 14%, thereby allowing Bulgaria’s state-owned power utility to save around 50 million levs a year, or a total of 550 million levs by 2026, when the contract with the US-owned TPP expires.

(HBCB)