No 'Monopolies', 'Cartels' to Be Revealed in Bulgaria

Business | March 20, 2013, Wednesday // 20:15|  views

Bulgaria's Commission for Protection of Competition has dimmed hopes for the revealing of the names of companies that many believe distort Bulgarian markets.

"The CPC does not have the authority to determine monopolists or market dominating companies outside of cases in which it investigates a possible breach of the Competition Law or EU Treaties," reads a Commission statement released Wednesday.

The position comes as an answer to Bulgarian caretaker PM Marin Raykov's Wednesday call for the agency to reveal the important monopolies and cartels currently working in Bulgaria.

Raykov's statement has been provoked by weeks of street protests that toppled the cabinet of former Bulgarian PM Boyko Borisov.

Among the top grievances of protesters is the alleged strong presence in Bulgaria of cartel agreements and companies cherishing positions close to those of monopolists, to the detriment of consumers.

According to protesters, the situation is especially pressing in the energy sector, and affects negatively power and fuel prices.

According to the Commission for Protection of Competition, it does not have the power to act of its own accord in the absence of a formally determined legislative breach by a market actor.

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Tags: monopolies, cartel agreement, Commission for Protection of Competition, CPC, Marin Raykov, protests, power, fuel


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