EVN Bulgaria Provides 16.4 Mln Euro Short-Term Liquidity to NEK

EVN Bulgaria Provides 16.4 Mln Euro Short-Term Liquidity to NEK

Power distributor EVN Bulgaria Elektrosnabdiavane said it will provide short-term liquidity to the state-owned power utility National Electricity Company, NEK, in the amount of 32 million levs ($22.8 million/16.4 million euro).

In a similar statement, power distributor CEZ Bulgaria said it will provide NEK with 8.1 million levs, to be followed by two more disbursements by the end of the month.

On Friday the State Energy and Water Regulatory Commission (SEWRC) said it had been notified by NEK that the Bulgarian units of Austria’s EVN and the two Czech companies CEZ and Energo-Pro owe it over 318 million levs in outstanding payments, and threatened  to start on Wednesday a procedure for the cancellation of the licences of the three companies if they refuse to make the payments.

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.

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