No electricity price increase after NPP Belene arbitration ruling – Bulgaria, 20 June 2016

Bulgarian Minister of Energy Temenuzhka Petkova said that electricity prices will not be increased after last week’s announcement that Bulgaria was ordered to pay 0.55 billion euros for the cancelled NPP Belene project.
Minister Petkova said that National electric Company (NEK) will not bear any financial losses as a result of this ruling. The aforementioned 550 million euros will be used to purchase two nuclear reactors (of which one is completed and the other is under construction) and possibly sell these to a third party, because, according to the Minister, there is a market for such equipment, most likely in Iran or India.

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