Bulgarian Regulator Threatens to Revoke Licences of CEZ, Electro-Pro, EVN Units

Bulgaria's energy regulator will launch on Wednesday a procedure to revoke the licences of the power distribution units of Czech companies CEZ and Energo-Pro, and of Austria's EVN unless they make outstanding payments to the state-owned power utility, the Bulgarian National Radio reported on Tuesday.

EVN and Energo-Pro have also received penal notices of 1.0 million levs ($711,000/511,000 euro) each, and CEZ will get one by the end of the week, the head of the State Energy and Water Regulatory Commission (SEWRC), Boyan Boev said, as quoted by the broadcaster. "These can still be appealed but from now on SEWRC will act to revoke the companies' licences if they fail to pay their dues," Boev said.

On Friday, SEWRC said it had been notified by NEK that the outstanding payments of the local power distribution units of the three companies to the state-owned power utility exceed 318 million levs, and urged them to settle those within three working days.

The power distributors have said they owe the debt-ridden NEK nothing, claiming that it had failed to pay them the money the were due in compensation for being obliged to buy electricity generated by wind and solar power installations, the broadcaster said.

Source: SeeNews