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Bulgaria Energy Watchdog: Go-Ahead for Stripping CEZ of License

Business » ENERGY | February 19, 2013, Tuesday // 20:46| Views: 1458 | Comments: 0
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Bulgaria: Bulgaria Energy Watchdog: Go-Ahead for Stripping CEZ of License The news was broen by Yane Yanev, leader of the Order, Law and Justice (RZS) party. Photo by BGNES

Bulgaria's State Commission for Energy and Water Regulation (DKEVR) has launched a procedure for stripping the local unit of power distributor CEZ of license.

This was announced by Yane Yanev, leader of the Order, Law and Justice (RZS) party.

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.

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Tags: State Commission for Energy and Water Regulation, DKEVR, protest, electricity prices, Prime Minister Boyko Borisov, CEZ, power distributors
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