Bulgarian PM has accepted Energy Minister resignation over CEZ deal
Bulgarian Prime Minister Boyko Borisov accepted the resignation of Energy Minister Temenuzhka Petkova who decided to quit her position in order to avoid all doubts about her possible influence in the CEZ deal. Earlier last week, Czech power utility CEZ agreed to sell its Bulgarian assets to the Bulgarian company Inercom, the small family-owned business […]
Power production and distribution companies in the Balkan region – governments still in charge
By Vladimir Spasić, energy journalist and analyst It is not just that the governments in the Balkan region do not consider selling their power utilities, but they covet buying what they sold twenty years ago, or at least buying from their neighbors. This can be illustrated by the announcement of Serbian power utility Eletkroprivreda Srbije (EPS) […]
Bulgarian NEK and Austrian EVN agree on debt settlement
Austrian energy company EVN and the Bulgarian National Electricity Company (NEK) reached an agreement to settle a debt worth BGN 192 million (EUR 98,2 million). The settled amount remains unknown, but EVN said in a statement that the agreement will increase its net income by EUR 38 million in the second quarter of this year. […]
ČEZ lauches arbitration proceedings for its investment
Bulgaria’s failure to observe the investment protection provisions of the Energy Charter Treaty was cited by ČEZ Group for its decision to file a request for arbitration with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). A number of actions of domestic authorities damaged the Czech utility’s companies in Bulgaria, causing the […]
EBRD plans loan for CEZ Distribution’s grid in Bulgaria
The proceeds of a loan being considered by the European Bank for Reconstruction and Development are set to be used by CEZ Distribution (Razpredelenie) Bulgaria a.d. The target date for the final review of the senior package of EUR 116 million is September 7, the project summary document states. EBRD said the electricity distribution company […]
Public supplier turns to court for electricity debt
National Electricity Company (NEK), Bulgarian government-controlled utility, initiated arbitration and cases in commercial courts against companies EVN Elektrosnabdiavane, ČEZ Electro, and Energo-Pro Sales, which supply power to consumers. Energy minister Temenuzhka Petkova revealed information about the disputes in parliament in an answer to an opposition lawmaker, Mediapool reported. The companies are subsidiaries of Austrian EVN […]
Producers, Associations establish National Energy Chamber
Legitimate representation and protection of the interests of the energy companies in Bulgaria are the leading priorities of the newly founded National Energy Chamber (NEC). Its establishment was officially announced during an energy event organised by Economedia in Bulgaria’s capital Sofia on March 22, Publics.bg portal reported. It groups renewable and conventional energy producers and […]