Bulgaria Draws Hefty Dividend from EVN Power Utility

Energy | June 2, 2010, Wednesday // 19:15|  views

Parts of the investments made by Austrian-owned power supplier EVN are improving customer service. Photo by BGNES

The Bulgarian State will draw a BGN 1.65 M dividend for 2009 from the power utility EVN, the company informs Wednesday.

The amount was voted during the shareholders meeting. It represents 10% of the profits of the utility, which serves southeastern Bulgaria. The other 90% of the BGN 50 M profit will be reinvested in the company's network, as it has been done for the 5 years after it entered the Bulgarian market, when the utilities were privatized.

The Bulgarian State owns 33% of the EVN shares in the country.

EVN had invested in 5 years BGN 600 M for repairs of the electric power supply network and customer service. Its investment program provides for a total of BGN 180 M in Bulgaria's energy sector in the next few years.

In the beginning of April, Prime Minister, Boyko Borisov, declared the three power utilities and the lobbyists who helped implement the present electricity pricing schemes have committed a “daylight robbery,“ vowed to involve the Prosecutor's Office in the probe and even threatened CEZ, E.ON and EVN with nationalization.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!


Tags: power utility, Boyko Borisov, Prime Minister, electricity, electricity distribution companies, electricity providers, CEZ, EVN, EON, State Commission for Energy and Water Regulation, DKEVR, Konstantin Shushulov

Back  

» Related Articles:

Search

Search