Bulgaria Opening Probe of CEZ, EVN, Energo-Pro Units over Rise in Power Prices

Bulgaria Opening Probe of CEZ, EVN, Energo-Pro Units over Rise in Power Prices

The Bulgarian authorities are launching joint checks of the local power distribution units of Austria's EVN and Czech companies CEZ and Energo-Pro in response to concerns of local businesses over a sharp rise in electricity prices. A joint team of the energy ministry and the energy regulator will check between January 15 and 21 whether Power Distribution North, a unit of Energo-Pro, Power Distribution South, part of EVN, and CEZ Distribution Bulgaria, majority owned by CEZ, are meeting their licence requirements, the ministry said in a statement on Friday. The chairman of the energy regulator will call a meeting on Monday of the heads of the three power distribution companies, the state-owned companies which are the main suppliers of electricity on the free market - the National Electricity Company, Kozloduy nuclear power plant and Maritsa East 2 thermal power plant - the Bulgarian Energy Holding, the Independent Bulgarian Energy Exchange and the Electricity System Operator to discuss steps to to increase the volumes of energy on the day-ahead market and reduce demand risks. 

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