Albania revokes CEZ distribution license

An Albanian regulator on Monday voted to revoke the distribution license of a loss-making unit of the Czech energy giant CEZ. It is also holding the company liable for failing to import electricity into the Balkan state and not investing in its power grid. CEZ plans to contest the move and will demand compensation in a court of arbitration. The decision is the latest move in a long-running battle between CEZ and Tirana over power imports and prices.

Author: Ian Willoughby