In the first half of 2007, Varna thermal power plant (TPP) recorded a loss of four million leva, said plant owner CEZ Bulgaria, according to Dnevnik Daily.
The downturn was blamed on the local power regulator's refusal to approve a requested price hike for electricity output.
Losses are expected to increase to 12 million leva by the end of the year.
Early last month, the TPP requested that national power grid operator NEK increase the tariff for electricity to 56.70 leva a MWh. The State Energy and Water Regulatory Commission set the price of at only 54.43 leva a MWh.
The regulator also refused to increase the tariff that the power station charges from NEK from 7.94 to 8.48 leva a MWh.
The power sales tariff have caused the company to lower its production targets from 12 to 20 per cent.
The downturn was blamed on the local power regulator's refusal to approve a requested price hike for electricity output.
Losses are expected to increase to 12 million leva by the end of the year.
Early last month, the TPP requested that national power grid operator NEK increase the tariff for electricity to 56.70 leva a MWh. The State Energy and Water Regulatory Commission set the price of at only 54.43 leva a MWh.
The regulator also refused to increase the tariff that the power station charges from NEK from 7.94 to 8.48 leva a MWh.
The power sales tariff have caused the company to lower its production targets from 12 to 20 per cent.
