CEZ Calls For Creation of Vulneravble Consumers Fund Via Stricter Sanctions For Electricity Theft

Business » ENERGY | September 27, 2016, Tuesday // 11:08| Views: | Comments: 0
  • Send to Kindle
Bulgaria: CEZ Calls For Creation of Vulneravble Consumers Fund Via Stricter Sanctions For Electricity Theft BGNES

The Energy Distribution Company CEZ has called for the creation of a fund for investments and support of vulnerable consumers via an increase in the sanctions for electricity theft.

CEZ calls for the introduction of maximum sanctions, including financial penalties, for the theft of electricity and equipment from the electric infrastructure, announced the company. CEZ proposes that, after subtracting CEZ expenses recognised by the regulator, the proceeds be collected in a special fund for target investments in the sector, support of vulnerable consumers and other causes determined by the government.

“We call for protection of the interests of Bulgarian society, state and investors. The achievement of real results is only possible through stricter sanctions and effective sentences," stated Karel Kral, regional manager for CEZ Bulgaria.

The existing sanction for electricity theft in Bulgaria does not have the impeding effect which should be the basis of all sanctions. The price of additional billing is merely a third of the price paid by correct customers. Besides, it is paid for a period of 3 months only, even if the theft has continued much longer.

Everyone suffers as a result of this – the customers who endure power cuts. The state is injured financially – it does not collect taxes and excise tax on stolen electricity. Energy companies suffer losses as well. These are reflected on customers since the funds lost could be invested in improving electricity supply.

 “The damages from electricity theft are estimated in millions of BGN and we all pay for these every year,” stated Energy Minister Temenuzhka Popova.

Energy » Be a reporter: Write and send your article
Tags: CEZ, electricty, theft, sanctions
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria