The Varna thermal power plant privatisation will end sooner than planned. In addition, the financial parameters of the deal will be improved.

Bulgaria’s Privatisation Agency (PA) is carrying out negotiations with the Czech CEZ, mediapool.bg reported. The agreement framework will be presented in several days.

According to a PA decision the sale needs to be concluded by April 21. CEZ representatives said an agreement can be reached earlier because of the fast negotiation pace. A final decision can be expected in the beginning of April, company representatives said.

CEZ representatives did not specify whether improved deal parameters include a higher price offer. During the initial tender CEZ ranked second after Russian company RAO EES with its offer of 192.044 million euro. Since RAO quit the negotiations, the PA started talks with CEZ.

The procedure will end fast as CEZ is aware of the specific Bulgarian energy market, company representatives said.

The Czech company offers a business plan, providing investment for environment protection in accordance with European ecology regulations. The amount CEZ will invest in such developments will be announced after the endorsement of the contract.

CEZ is active on the Bulgarian energy market since 2004. Company representatives said they do not expect denial for the purchase from the Commission for the Protection of Competition, as the Varna power plant has a marginal share in the national energy market.