Massive street demonstrations over high electricity bills have led the Bulgarian government to announce its resignation on 20 February and the upcoming revocation of CEZ's distribution license. The pledged 8% cut in electricity prices as of 1 March 2013 - prices are set by the regulator DKEVR, which is subordinated to the executive - was not sufficient to defuse tensions.
Demonstrators accused the three foreign companies that share the electricity distribution market (CEZ in western Bulgaria, Energo-Pro in north-eastern Bulgaria and EVN in southwestern Bulgaria) of windfall profits and claimed to "set on fire the monopolies". In Bulgaria, monthly wages average €387 (pensions ranging between €76 and €150/month) while electricity bills can reach €100/month.
The revocation of the CEZ's license is likely to spark tensions with the Czech Republic; the state-owned group's license in Albania was revoked last month, triggering an international arbitration procedure against Albania.