Bulgaria moves to revoke Czech power distributors’ licences

The authorities in Bulgaria on Wednesday started a process to revoke operating licences of three foreign power distributors including the Czech firms ČEZ and Energo Pro. The move by the Bulgarian energy regulator comes after the companies, along with Austria’s EVN, failed to settle an alleged debt of over 226 million US dollars to the state power produced NEK, a debt contested by the firms. The regulator gave the foreign-owned distributors two weeks to submit comments on the decision before it addresses the issue again on April 7, the news agency ČTK reported quoting Bulgaria’s news site sofiaglobe.com.