The three power distribution companies of Bulgaria have requested significant price increases as of 1 July 2014. Czech companies CEZ and Energo-Pro have asked a 13-14% increase in tariffs, while Austrian group EVN requested an 8% hike.
Energy tariffs in Bulgaria are a very sensitive topic, and massive protests led the former government to stand down in February 2013. The energy regulator DKEVR is currently locking horns with distribution companies, over their debt to the national electricity company NEK (estimated at BGN350m, i.e €175m); distribution companies are unwilling to pay this amount and claim that NEK owes then BGN450m (€225m) as compensation for renewable energy fees. Since May 2013, Bulgaria's government has cut household electricity bills twice and the potential revocation of power distribution licences could be another blow for foreign energy investors. So far, the DKEVR has not revoked any licence.
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