NEC Calls for 10% Increase in Electricity Prices from July 1st
Friday, 28 April 2017
Bulgaria's National Electric Company (NEC) is calling for a 10-percent increase in the consumer price of electricity from July 1st, 2017.
They say someone will have to "foot the bill", be it the industrial consumers or the households.
At present, prosecutors are probing into legal consultancy contracts worth 1 million levs signed by NEC's management.
CEO Petar Iliev says the increase is not meant to cover the consultancy costs of the company under these contracts.
He added these contracts have been signed with top-tier legal consultants to represent NEC in international arbitrary cases with total claims of over one billion levs.