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March 27, 2015 5:18 PM ET

Electric Utilities

Company Overview of Bulgarian Energy Holding EAD

Company Overview

Bulgarian Energy Holding EAD engages in the generation, production, transmission, transit, storage, management, distribution, sale, and/or purchase of natural gas, electricity, thermal power, coal, and various types of energy and raw materials for manufacturing in Bulgaria. It operates through Electricity, Natural gas, and Coal segments. The company primarily generates and exports electricity through thermal, nuclear, and hydro-power plants for medium and low voltage electricity supply companies; and engages in gas pipeline projects, as well as holds a license to operate the electricity exchange in Bulgaria. It also provides telecommunications service to telecommunications operators and corp...

16 Veslets Street

Oborishte Municipality

Sofia,  1000

Bulgaria

Founded in 1973

Phone:

359 29 26 38 00

Fax:

359 29 25 04 01

Key Executives for Bulgarian Energy Holding EAD

Chairman Executive Member of the Board of Directors and Chief Executive Officer
Chief Executive Officer of Bulgartransgaz
Chief Accountant
Executive Director - Mines
Compensation as of Fiscal Year 2014.

Bulgarian Energy Holding EAD Key Developments

Bulgarian Energy Holding Reports Earnings Results for the First Nine Months Ended September 2014

Bulgarian Energy Holding posted an after-tax profit of BGN 116.1 million ($74 million/EUR 59.4 million) in the first nine months ended September 2014, down 55.6% from the same period a year earlier. Revenues dropped nearly 65% to BGN 87.99 million through September, mainly as a result of lower dividend income.

CEZ Bulgaria and Bulgarian Energy Holding Mull Setting Up Project Company to Fund Varna TPP Eco Retrofit

The Bulgarian unit of CEZ and Bulgarian Energy Holding (BEH) are considering setting up a project company to finance an eco retrofit of three units of Varna thermal power plant (TPP). The new company will provide financing for the eco retrofit of Units 4, 5 and 6 of the 1,260 megawatt (MW) TPP and will rent the plant. CEZ Bulgaria, which owns Varna TPP, said it has signed with BEH an agreement for cooperation in searching for ways to extend the lifespan of the TPP. Varna TPP operates six units. Units 4 and 5 of the power plant have been off-line since January 1, 2013 and January 1, 2014, respectively, due to non-compliance with environmental limits set in the respective integrated permit. Units 1, 2, and 3 are operating under a 'derogation regime' with limited operating hours per year.

Bulgarian Energy Holding EAD Announces Management Changes

As of July 2014 Mr. Ivan Yonchev has stepped down as Chief Executive Officer and Executive Member of the Board of Directors of Bulgarian Energy Holding EAD due to a planned medical intervention which will require a long recovery period. Mr. Jacklen Cohen has been appointed as the new Chief Executive Officer and Chairman Executive Member of the Board of Directors of the company. Mr. Cohen is an economist and is Chairman of the Board of Directors of NPP Kozloduy EAD.

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