CPC Hits Bulgargaz With Record Fine
Bulgaria's Commission for Protection of Competition (CPC) imposed the record fine of over BGN 23 M on Bulgaria's state-owned gas supplier Bulgargaz, reports BGNES wire service.
The company was fined BGN 23 377 600 for abuse of dominant position by imposing dishonest commercial practices.
According to complaints of Bulgargaz customers from the Overgaz group and Sofiagaz, the supplier imposed on them contracts, which require them to consume even quantities of gas every day, or they would be penalised by a 10% price increase.
The record fine is just 0.5% of the Bulgargaz annual turnover. The maximum share is 10%. CPC, however, multiplied the percentage of the fine by 2.5 – the period in which the company was imposing those requirements.
The previous record fine, BGN 15 988 300 was imposed by CPC in 2012 on the official distributor of Hyundai cars for Bulgaria – Industrial Commerce and its daughter company Hyundai Leasing.
- » Parliamentary Committee Approves Bulgaria's 2016 Draft Budget
- » Bulgarian PM Calls on Mayors to Increase Taxes Due to Rising Security Expenditures
- » Bulgaria MPs to Vote on 2016 Budget This Week
- » Bulgaria Backs Nord Stream-2, Standing Up for Own Gas Hub Project
- » Liberalization of Energy Market in Bulgaria Likely to Lead to Power Price Hike
- » Tourism Minister Expects 1.5 Million Russians to Visit Bulgaria in 2016