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The financial position of Bulgaria’s National Electricity Company (NEK) is worsening and its debt already exceeds BGN 3.1 B, caretaker Energy Minister Vasil Shtonov has said. On Tuesday, Shtonov told the first meeting of the newly-formed Energy Board that additional expenses relating to the arbitration case with Russia’s Atomstroyexport over Belene nuclear power plant or bigger losses can push the state-owned company into insolvency. In addition, domestic electricity consumption is likely to decline in...
It will be impossible for creditors to retrieve the entire amount of money they lent to the now-defunct Liepajas metalurgs, President Andris Berzins told Latvian State Television this morning, informs LETA.
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