Bulgarian Transmission System Operator Study under Energy Framework Agreement with EIB (2014)
In 2002 the European Investment Bank (EIB) provided a loan to the Republic of Bulgaria with a final beneficiary the state-owned enterprise Natsionalna Elektricheska Kompania EAD (NEK) amounting to EUR 60 million. The purpose of the credit was to finance the investment programme of NEK concerning rehabilitation and modernization of the electricity transmission system.
This study is intended to assist the EIB in deciding on the approval of the unbundling of ESO from NEK in relation to the capacity of the former to undertake all relevant contractual obligations of NEK, including the ability to generate sufficient cash flows to ensure debt service.
The study focuses on the identification of present conditions, expected developments, and associated risks, of external and internal factors affecting ESO’s financial situation.
Infraproject Consult Ltd. takes part in the study as a subcontractor of the Greek company LDK Consultants Engineers and Planners SA.
Experts of the company participates in the development of analyses and reports related to the regulatory framework for transmission services review and analysis and the analysis of management and capacity of new company. The scope of services comprises:
- Overview of the Bulgarian Electricity Market – macroeconomic context, electricity demand, capacity and generation mix, balanced electricity prices;
- Legal Status Assessment;
- Review of transmission network regulatory framework;
- Analysis of ESO financial situation.