National Electricity Company Posts 98 Mln Euro Cons Loss in 2012

National Electricity Company Posts 98 Mln Euro Cons Loss in 2012

Bulgaria's national electricity company NEK posted a consolidated loss of 192 million levs ($126.9 million/98.2 million euro) in 2012, the company's executive director said.
The company reported a pre-tax operating loss of 234 million levs, NEK executive director Ivo Lefterov told parliament.
Lefterov attributed the negative financial results to unfavourable electricity purchase contracts with renewable energy producers and thermal power plants.


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