Credit Suisse First Boston (Europe) Ltd., hired in August to consult the privatisation of majority stakes in the thermal power plants (TPPs) of Bobov Dol, Rousse and Varna, has sent out letters to prospective candidates inviting them to take part in the sell-off procedure. The procedure kick-off, scheduled for November, is unlikely to happen on time as the consultant should first draft a strategy for the privatisation of the TPPs which should then be approved by the energy minister and the cabinet and then passed by parliament. The Privatisation Agency (PA) will then have to prepare the competition papers. The duties of the consultant include marketing of the sell-offs and providing general advises to the PA on the preparation and implementation of the three privatisation procedures. The buyers of the electricity distribution companies have shown interest in the acquisition of the TPPs, energy minister Milko Kovachev said recently. Czech CEZ, which bought the electricity distribution companies based in Sofia, Sofia region and Pleven, confirmed before Dnevnik that it intends to take part in the privatisation of the three TPPs. Russia's RAO EES too has announced interest in the Varna TPP which operates on Russian and Ukrainian coal. The sale of the TPPs, which the government hopes to wrap up by mid-2005, is seen as the second most important deal in the domestic energy sector after the recent sale of Bulgaria's seven electricity distribution companies as the buyer of the plants will be able to export electricity to the other countries in the region once the market is opened to competition. As of 2007, the TPPs will be allowed to sell electricity to clients outside this country paying the National Electricity Transmission Company a transmission fee only.