ČEZ will appeal Bulgarian regulator’s decision on energy prices

The Czech power giant ČEZ has said it will appeal the decision of the Bulgarian energy regulator to cut energy prices for consumers from January 2014. A spokesman for the company said ČEZ was now analyzing projected losses which are expected to be severe. The Bulgarian State Energy Commission this week announced a plan to reduce electricity prices for Bulgarian households by one per cent starting January, at the same time cutting the night-time rate by 10 per cent and electricity prices for industrial consumers by 1.5 per cent. Electricity prices have been a sensitive issue in Bulgaria this year, one of the major complaints behind massive anti-government protests and energy prices have already been reduced twice in 2013 to stave of growing public discontent.