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Court halts registration of new Bulgarian Energy Holding management

Bulgarian Energy Holding
Photo: BGNES

The registration of the new management of the Bulgarian Energy Holding (BEH) has been halted by the court after an appeal by BEH’s former CEO, who was removed from office, Valentin Nikolov, BNR’s Juliana Kornazheva reports.

On Friday Energy Minister Andrey Zhivkov dismissed the holding’s board of directors and the board is appealing the decision. The Ministry of Energy gives as the reason for the dismissal: lack of results following the minister’s demand that the management of Bulgartransgaz be dismissed due to breaches connected with the Balkan Stream project and unsatisfactory financial performance. Valentin Nikolov on his part stated that the minister wanted to take over the companies under the umbrella of the holding:  Kozloduy Nuclear Power Plant, Bulgargaz, Bulgartransgaz, Maritsa Iztok Thermal Power Plant, Mini Masritsa Iztok.