Bulgarian Power Utility CEZ Invests BGN 3 M in Winter Repairs

The Czech-owned electric power utility CEZ promises to apply all effort to secure comfort for their customers during the winter season. File photo

The Czech-owned electric power utility CEZ, servicing western Bulgaria, announces BGN 2.9 M in new investments in their network.

The money is slated for repairs and improvements of the network and preparation for the winter tourist season.

The largest investment project, to be launched in October, is planned for the resort village of Ribaritsa where nearly BGN 900 000 would be used for network reconstruction.

The company's management point out the resort has many hotels while the forecast is for very cold winter meaning eclectic power consumption is expected to go up.

CEZ promises to apply all effort to secure comfort for their customers during the winter season.

Another large investment project is the installation of systems for remote power use readings and for remote stopping of power supply to Roma quarters in the western town of Dupnitsa and the nearby village of Kraynitsi.

The latter project is part of the utility's program to increase customers' trust by motivating those who pay their bills regularly and sanction debtors

CEZ say the amount of overdue electric bills currently stands at BGN 74 M, which is more than the approved annual investment amount, making cash flow and payments to other businesses difficult. For this reason, CEZ is undertaking measures against those who fail to pay their bills in full and on time.

In the beginning of October, CEZ formally approved the decision to pay a total dividend of BGN 41 M to the Bulgarian government.