The Bulgarian power distribution unit of Austria's EVN said it has submitted with the country's state-owned power utility NEK a proposal on resolving an ongoing trade dispute between them.
The written proposal was also sent to the country's energy regulator, EVN said in a press release.
Last month Bulgaria's energy regulator said it would launch a procedure to revoke the licences of the local power distribution units of EVN and Czech companies CEZ and Energo-Pro as their outstanding payments to NEK exceeded 347.6 million levs ($245.7 million/178 million euro).
For their part, the power distributors have said they owe the debt-ridden NEK nothing, claiming that it had failed to pay them the money the were due in compensation for being obliged to buy electricity generated by wind and solar power installations.
CEZ too has proposed to NEK that the two sides hold talks to resolve their dispute.