Valentin Nikolov: It is realistic that two new units at Kozloduy NPP will cost less than BGN 30 billion

"The realistic cost of the construction of the two new units will be much less than BGN 30 billion," Kozloduy NPP Executive Director Valentin Nikolov told BNT. He added that at the moment the Kozloduy NPP is secured and there is liquidity for the implementation of such a project.

"There is money for the initial activities for the 7th and 8th units of the Kozloduy NPP, as well as for securing the program of the Kozloduy NPP", he is categorical.

Yet he added:

"We are concerned that in the not-too-distant period when electricity prices fall, that means our cash flow will be completely different, especially our revenue, and that will make some activities difficult, but at the moment we are optimistic."

The head of the Kozloduy NPP also commented on the choice of a company for the construction, clarifying: "We do not choose a builder. We choose a partner of Westinghouse, because the technology is theirs. Many people confuse that we choose a contractor and we have to let some company at the auction. Things are quite delicate and it is not good for people who do not understand the process to give incompetent opinions", said the executive director of Kozloduy NPP Valentin Nikolov.

"Currently, based on the decision of the National Assembly, we will conduct negotiations with Hyundai. If these negotiations do not lead to the tasks that are from the National Assembly, another option is always possible," Nikolov added.

Nikolov also spoke about the insistence of GERB leader Boyko Borisov and DPS Delyan Peevski, Asen Vassilev to cover the energy deficit.

"The risk, if the deficit is not covered, is that you know that from July 1 there is already a liberalization of the wholesale market, i.e. the final suppliers that supply energy to households will go and buy quantities of energy on the free market, at -high price. However, in order not to increase the price, households must be compensated. And this compensation must come from the energy system guarantee fund".

"Why should it rise when the price of the stock exchange is falling? It is because the fund has been making up these differences so far, now it will not be able to make up for them, it is already accumulating a deficit in the public supplier of the national electricity company. Even the national electricity company already owes money of the Kozloduy NPP, explained Nikolov.

He pointed out that there are two ways of compensation - either through the budget, or through an increase in the price, which is BGN 0, a rate that is an obligation to society, which is part of the price for electricity for every single user, regardless of whether it is a household or is a company.

"The fund owes us over BGN 130 million to the National Electric Company, which are overdue, and it owes us BGN 40 million, but it also owes Maritsa East TPP and others," added the executive director of Kozloduy NPP.