Vladimír Urbánek (Kurzy.cz)
Czech markets  |  February 19, 2013 13:09:48, updated

CEZ: How Bulgaria is a flagrant violation of law within the EU, it is suggested to remove the license, shares near long term lows

After problems in Albania, which for CEZ led to suspension of the license, is facing domestic dominant supplier of electricity rising tensions in Bulgaria, where a wave of protests against the rise in electricity prices. The Bulgarian government in response to the protests, today announced that it will propose regulations that should reduce electricity prices by up to 8%.

According to agency reports, the Bulgarian prosecution even proposes immediate suspension of the license for the distributor of CEZ Group.

CEZ spokeswoman mouth Mgr. Barbara Long time responded to the declaration as follows:

"Media Statement Bulgarian Prime Minister and prosecutors consider a gross violation of laws of Bulgaria as a Member State of the European Union. Sole authority, which may decide to initiate withdrawal of the license procedure is entirely independent energy regulatory authority. From him we have not received any official awareness of the intention of this step taken. In this report, the regulator must also be specified the exact reasons for the revocation of licenses and to eliminate these deficiencies, the distribution company have finally just laid down.

ČEZ Bulgaria fully fulfills all the duties assigned to it under the regulatory framework established by the local energy regulatory authority, and any other legal obligations.Therefore categorically rejects any error which could theoretically lead to the initiation of removal procedure license. ČEZ also disagree with the whole politicization of this issue due to the upcoming parliamentary elections. "

CEZ shares in response to the ongoing Balkan problems today during the day fell below the limit of CZK 610. Moved below the title in October 2008, in mid-2006 and again in August 2005. Detailed development of today's event can be found HERE .

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ČEZ: Postup Bulharska je hrubým porušením práva v rámci EU, padl návrh na odebrání licence, akcie blízko dlouhodobého minima

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