Investors' interest should be taken into account when negotiating long-term energy contracts

The National Energy Chamber expects that legitimate investor interest will be taken into account during any discussions about existing long-term contracts in the energy sector. This was announced by the organization of the energy companies in an open letter to Deputy Prime Minister Tomislav Donchev, Energy Minister Temenuzhka Petkova and Finance Minister Vladislav Goranov. The reason is the decision of the Council of Ministers of September 11, 2019, which mandates the three ministers to negotiate early termination of the contract for the purchase of electricity of KonturGlobal Maritza East 3 AD. Due to the importance of the issue, we publish the entire letter without editing:

We approach you with regard to the published decision of the Council of Ministers mandating three cabinet members to negotiate the termination of the power purchase agreement  of ContourGlobal Maritsa East 3 AD.

Led by its principles, the National Energy Chamber expects that the legitimate interest of the investors will be respected in any discussions on the existing long-term agreements in the energy sector. 

We also expect that the policies ensuring continued security of supply and electrical system stability through optimal use of indigenous resources in compliance with environmental requirements, will remain in place.  The sustainable operation of strategic power plants will benefit the Bulgarian consumers as well as the local and national economy. 

The open letter was signed by Co-Chairs of the National Energy Chamber, Robert Dick and Olivier Market.