Czech-owned power utility CEZ has issued a statement noting the company has fulfilled all of its obligations under the clauses of the privatization contract from 2004.

CEZ further inform the contract is available online for all who wish to become acquainted with its clauses.

The company stresses it adheres fully to the law and is one of the biggest taxpayers in Bulgaria, adding since it took over the electric power distribution in western Bulgaria, it had paid taxes in the amount of BGN 429 M.

One day ago, CEZ explained their services were offered for market prices. Since 2004 until now, no tax and other audits have revealed any cartel or other violations committed by the company.

CEZ controls companies that supply electricity to Sofia and the northern city of Pleven, which together account for 41% of Bulgaria's power consumption.

Bulgarians have been staging for many days now large-scale protest rallies across the country against high utility bills and the monopoly situation of the power distributors.

Bulgaria sold seven power distributors in 2005 to EON SE, CEZ and EVN before joining the European Union. EON sold its Bulgarian companies to Energo-Pro in 2011.

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