CEZ Denies Allegations of Exporting Profits
Czech utility CEZ, which supplies power to over 2 million households and companies in western Bulgaria, denies the allegations that it has excess profits and exports them abroad.
In an interview for a Bulgarian-language news agency, CEZ Bulgaria's chairman and regional manager, Petr Dokladal, said that the profits from the past nine years had been invested in the electricity grid and for the payment of taxes and fees.
According to the financial statements the net profits of the distribution company CEZ Distribution and the provider CEZ Electro in the period 2005-2013 were BGN 379 M and the EBITDA revenue was BGN 937 M.
In the same period the companies had invested BGN 728 M in the improvement of the electricity grid and paid taxes amounting to BGN 285 M.
The total expenses CEZ Bulgaria incurred amounted to BGN 1.13 B.
- » First Sections of North Stream 2 To Be Ready in November
- » Bulgaria MPs Set Up Committee to Investigate Fuels Market, Bobov Dol Mine
- » Bulgarian ex-EconMin Indicted over Abandoned Belene Nuclear Plant
- » Bulgaria's Energy Minister Dismisses Stanishev Cabinet Ministers From State Energy Ventures
- » FT: Bulgarian and Greek Pipeline Aims to Cut Gas Dependency on Russia
- » Two Indicted in Bulgaria over Nuclear Plant Deal with Russia