Economy minister says Bulgarian Energy Holding may be split in two.

By bne IntelliNews August 2, 2010
State-run Bulgarian Energy Holding (BEH) will most likely be split in two holdings, though other options are also being discussed, economy and energy minister Traycho Traykov said. The first holding will comprise the Electricity System Operator (ESO) and the assets of the other transmission companies, while the second will consist of all generating utilities. A small part of the energy production holding will be listed on the local stock exchange. The division of the company will most probably take place by the end of the year. BEH was set up in September 2008 by the previous government and comprises natural gas supplier Bulgargaz, natural gas transmission utility Bulgartransgaz, telecom arm Bulgartel, NEC (including ESO), the nuclear power plant in Kozloduy, thermo-power plant Maritsa East II, and coal mine Maritsa East. In April this year, the current cabinet announced plans to disband BEH by the end of June as the holding had not fulfilled the goals for which it had been established and reportedly had no potential to coordinate the activities of its subsidiaries and optimise its revenues and expenditures.

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