Agency: Bulgaria to strip CEZ of distribution license on Tuesday

The authorities in Bulgaria are planning to strip the Czech power giant CEZ of its distribution license in the country on Tuesday, Bulgaria’s Focus news agency reported, referring to a statement made by the country’s prime minister, Boyko Borisov, at a news conference in Sofia. People in Bulgaria have been protesting against what they regard as the excessively high prices for electricity charged by CEZ and an Austrian company. An analyst told the news website that a forced exit from Bulgaria could cost CEZ as much as CZK 15 billion.

Author: Ian Willoughby