Bulgaria is considering removing their power distribution licences to three foreign electricity companies, over debts due to the state power provider NEK. Bulgaria's power distribution is ensured by three foreign companies, which benefit from a regional monopoly: EVN (Austria), CEZ and Energo-Pro (Czech Republic). They could see their licence revoked on Tuesday 18 March as they are required to pay about BGN318m (€159m) to NEK; in turn, the companies are awaiting NEK to repay them the money they were forced by law to pay for wind and solar power installations.
Tensions already emerged in 2013 with CEZ over high prices - massive demonstrations had led to a cabinet change in early 2013 - and the energy regulator started investigating the company over allegations that it breached the country's energy regulations. 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.
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