Prosecutor’s Office to Check Power Purchase Contracts with TPPs Maritsa East 1, 3

Prosecutor’s Office to Check Power Purchase Contracts with TPPs Maritsa East 1, 3

Outgoing economy minister Delyan Dobrev said he will submit to the prosecutor's office for a check all documents regarding the state's obligations to purchase power generated by thermal power plants (TPPs) Maritsa East 1 and 3.

Under the contracts signed with the investors in the TPPs in 2002 and 2005, the country's power grid operator National Electricity Company (NEK) undertook to buy the electricity generated by the plants over a long period of time, binding the electricity bills due to be paid by end-consumers as security for the loans, the state-run Bulgarian National Radio (BNR) quoted Dobrev as saying.

If NEK defaults on these payments, it will owe the two TPPs 13.2 billion levs ($8.8 billion/6.7 billion euro), the Bulgarian News Agency (BTA) reported, quoting an audit report of 2011.

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