Bulgarian Audit Finds Violations in Foreign-owned Electric Utilities

Austrian EVN services the southwestern parts of the country; Czech CEZ services western while German E.ON is serving northeastern Bulgaria. File Photo

The audits of Bulgaria's State Commission for Energy and Water Regulation (DKEVR) reveal violations in the 3 electric power utilities – the Czech CEZ, the German E.ON and the Austrian EVN.

The information was reported Tuesday by the Head of DKEVR, Atanas Semerdzhiev, who said the companies which had violated their licenses for the supply of electric power will be fined.

The auditors have established three types of violations – suspicious accounting practices in reporting expenses, unsuitable expenses, especially for consulting services, and export of services.

DKEVR is still waiting for the reports of their engineering teams in order to officially announce the audit results, Semerdzhiev says.

“For now I don't see any of the 3 companies being threatened by license revocations, because this would have a very negative effect on the entire market and because the violations are not that serious. In addition, all 3 declared they will apply any possible effort to fix the problems,” the DKEVR Head pointed out.

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!