Bulgaria Energy Watchdog Holds Emergency Session on CEZ License

Energy | February 19, 2013, Tuesday| 842 views

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Bulgaria: Bulgaria Energy Watchdog Holds Emergency Session on CEZ License

Yuliana Ivanova, who resigned as DKEVR Chair but will keep the post until a replacement is appointed, made clear that one reason for withdrawing the license of a power distributor would be if the money earmarked for investments had been used for other pur

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) held an emergency closed-doors meeting late on Tuesday to discuss a potential withdrawal of the license of power distributor CEZ.

Prime Minister Boyko Borisov suggested Tuesday at a press conference that the license of the Czech energy company would be revoked by the end of the day.

According to reports of the Bulgarian National Radio (BNR) citing sources from the energy watchdog, two of the three power distributors operating in Bulgaria have been issued statements of offence and further inspections are yet to be conducted.

Yuliana Ivanova, who resigned as DKEVR Chair but will keep the post until a replacement is appointed, made clear that one reason for withdrawing the license of a power distributor would be if the money earmarked for investments had been used for other purposes.

Bulgaria has been gripped by week-long mass protests over the high electricity and heating bills.