The economic team of the
center-right government confirmed plans to dissolve a mega-structure,
which groups all big state-owned energy firms, and list a minority
stake in major energy companies on the Bulgarian stock exchangе.
"The government will dissolve the Bulgarian Energy Holding, while a
15% stake in the state power utility NEK and dominant gas supplier
Bulgargaz will be listed on the Bulgarian stock exchange," Finance
Minister Simeon Djankov told the morning broadcast of bTV channel.
The Bulgarian Energy Holding sacked at the end of last week the
chief executives of the state power utility NEK Lubomir Velkov and
Mardik Papazian over their failure to reduce the losses of the company.
The members of NEK board of directors was cut from five to three.
The holding was created in 2008 with the merger of five state-owned
companies - the National Electric Company NEK, the gas monopoly
Bulgargaz, the Maritza Iztok Mines, the Maritza Iztok 2 Thermal Plant,
and the Kozloduy Nuclear Power Plant into a EUR 4 B energy giant.
It is a sole owner joint-stock company with a 100% Bulgarian state ownership.