Bulgarian Authorities Fine CEZ, EVN, Energo-Pro by BGN 1 MEnergy | June 2, 2015, Tuesday // 15:07| views
Bulgaria's three energy distributors - CEZ, EVN, and Energo-Pro have been fined with a total of BGN 1 B on account of market abuse, as announced by the Commission on Protection of Competition.
As established through the investigation of the government commission, each and every one of the energy distributors has violated the local law by setting unreasonably high prices for the usage of the electricity distribution system. Thus, competition in the sector has effectively been limited, violated or completely eliminated thus negatively affecting the target market, i.e. regular electrical consumers.
As a result of the announced decision, the companies now need to pay monetary sanctions. CEZ Bulgaria needs to pay the biggest portion of the punishment with BGN 558, 446, then comes EVN with BGN 441, 380 and Energo-Pro owes Bulgarian authorities BGN 167, 256. The total sum of the imposed sanctions thus amounts to BGN 1, 167, 082.