Sat, Feb 11 2012

Kozloduy nuclear power plant reports 2008 profits three time higher than projected

Tue, Feb 03 2009 11:29 CET

byPetar Kostadinov

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Kozloduy nuclear power plant reports 2008 profits three time higher than projected

Photo: Анелия Николова

Bulgaria's sole nuclear power plant, in the town of Kozloduy on the Danube, reported profit for 2008 of almost three times higher than what had been projected, the plant's CEO Ivan Genov was quoted by the Bulgarian news agency BTA as saying on January 31 2009.

Revenues from production of electricity stood at 763 million leva, 125 per cent more than planned. The profit before taxation was close to 108 million leva, or more than 280 per cent more than projected. The net profit stood at 81 million leva, or three times higher than originally estimated, Genov said. The plant has deposited into the state budget more than 260 million leva.

He said that 2008 was one of the most successful years in the plant's history, which did not correspond with recent comments that Bulgaria was showing large losses from the closed units 3 and 4 of the plant.

They were shut down in the end of 2006 to fulfil requirements for Bulgaria's accession to the European Union. Since then, politicians, mainly President Georgi Purvanov, have been advocating for the re-opening of the two units, an idea that has always met the resistance of the EU.

Politicians have been claiming that by shutting down the two units, Bulgaria has been deprived of its role of being the "energy centre of the Balkans"; it formerly exported energy to all countries in the region.

The construction of a second Bulgarian nuclear power plant on the Danube, in Belene, has been dragging on for years.

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