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Raw&Refined Commodities EOOD - Bulgaria
Bulgaria has historically been a net exporter and an important supplier of electricity to the countries of the Balkan Peninsula. This has changed due to the commissioning of 1-4 generating units throughout 2004-2007 at the Kozloduy Nuclear Power Station. Increasing in energy prices, which has caused an annual raising of tariffs for the supply and transportation of electricity by Bulgarian State Commission for the Regulation of Energy and Water Resources, ordered a significant reduction in the export of Bulgarian electricity and forced the Balkan countries, who had previously been buying relatively cheap Bulgarian electricity, to look for alternative sources of supply.
In 2008, Bulgaria created a State Energy Holding Company, that included State Electricity providers, Mini Maritsa Iztok EAD, Maritsa East 2 TPP EAD, Kozloduy NPP EAD, NEK EAD, and the Electricity System Operator EAD, and gas providers, Bulgargaz EAD and Bulgartransgaz EAD, as well as branches of the Telecommunications provider, Bulgartel EAD.
Bulgargaz EAD handles the extraction, refining, supply, storage, distribution, and the selling and buying of natural gas, holding a monopolistic position in its market. The principal sources of gas are in the Russian Federation which are represented by such companies as Overgaz Inc., Gazpromexport and Wintershall. In view of the complex commercial structure of the Bulgarian Gas Market, especially the monopoly position of the State Energy Holding Company, independent traders are only left with the opportunity to trade in Liquefied Natural Gas (LNG) which is normally transported by rail in tankers.