Bulgarian Watchdog Fines Power Distributor EVN BGN 1 M

Business » ENERGY | February 22, 2015, Sunday // 12:13
Bulgaria: Bulgarian Watchdog Fines Power Distributor EVN BGN 1 M Photo by BGNES

Power distributor EVN, which services southeastern Bulgaria, has been imposed a fine of BGN 1 M.

Under a decision of the Plovdiv Administrative Court, which is final and cannot be appealed, EVN is imposed a fine by the State Commission for Energy and Water Regulation (DKEVR), for unauthorized offsetting amounting to BGN 25 M from the accounts of the state-owned supplier National Electric Company (NEK).

EVN purchased electricity from NEK at preferential prices in its capacity of end-supplier at a time when the company owed NEK BGN 50 M for purchased electricity, while EVN had to receive BGN 25 M from NEK, according to reports of Sega daily.

EVN decided to resort to offsetting, thereby violating existing legal provisions.

After the energy watchdog imposed the fine on EVN, the power distributor appealed it in court, but it was eventually upheld.

In March 2014, then-Energy Minister Dragomir Stoynev warned the three power distributors operating in the country that they could have their licenses revoked if they resorted to unauthorized offsetting.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: power distributor, EVN, EVN Bulgaria, NEK, National Electricity Company, power supplies, State Commission for Energy and Water Regulation, energy watchdog
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