site.btaInterior Ministry Concludes Probe into High Electricity Price

The General Directorate National Police has submitted to the prosecution service the findings of a probe into the price of electricity, the Interior Ministry said on Wednesday. The police found that "unwarranted high prices were due to generating facilities which were not switched on".

The Interior Ministry says the findings could lead to a reasonable assumption that officers at the Maritza East 2 TPP committed an economic crime, which caused a considerable detriment to the company, more specifically, lost profit.

The probe found that it is realistically possible for the state-owned Bulgarian Energy Holding, which has a dominant position on the wholesale electricity market, to reduce or suspend the provision of liquidity on the day-ahead market through a subsidiary. It was also found that between July 15 and August 3, 3021, just two of the generating units of the Maritza East 2 TPP were operating. The rest were switched on gradually after August 4, 2021 and the generated electricity doubled, resulting in a price plunge from 300 to 180 leva/MWh when five of the plant's units were operating.

The Interior Ministry said it launched the probe in September 2021, acting on an alert about an unwarranted high price of electricity offered on the day-ahead segment of the Independent Bulgarian Energy Exchange. The probe focused on the period between June and August 2021 when the price varied widely, reaching 400 leva/MWh at times.