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Albania Snubs Ousted Utility CEZ's Indemnity Claim

Business » ENERGY | February 9, 2013, Saturday // 17:04| Views: 1577 | Comments: 0
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Bulgaria: Albania Snubs Ousted Utility CEZ's Indemnity Claim

The government of Albania has refused to pay compensations requested by Czech power utility CEZ for the early termination of its contract.

January 21 Albanian energy regulator ERE revoked the license of the local CEZ unit, with the government regaining control over power distribution in the country.

CEZ has acted in response by claiming EUR 200 M in damages.

According to the Albanian Ministry of Energy, this claim is "unfounded" and the money will not be paid.

The power utility has also requested an international arbitration of the case.

The radical government move was taken after CEZ cut off some services for unpaid bills, while the government accused it of failing to abide by investment plans.

In Bulgaria, CEZ has been in charge of power distrubtion for the west of the country, including capital Sofia, since 2004.

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Tags: CEZ, Albania, power, electricity, Albanian
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