Sat, Nov 21 2009
The closure of two Kozlodui nuclear power plant reactors will lead to a loss of more than 1.6 billion euro for Bulgaria's energy sector.
Additional sums varying between 250 and 750 million euro will be lost due to the inability of Bulgaria to trade larger energy volumes, Economy Minister Roumen Ovcharov said yesterday.
After January 1 2007, the Kozlodui exploitation expenditure will reach 590 million euro, an expert analysis shows. The power plant has to invest more than 600 million euro in other projects, Darik radio reported.
The closure of blocks will lead to increases in the price of electricity, Ovcharov said. Higher electricity prices will also affect inflation levels through the expected increase in the prices of other goods and services.
According to government analysis household incomes will decrease due to the expensive electricity, bringing consumption down.
Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.
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The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.