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SOFIA, Feb 20 (Reuters) - Czech utility CEZ evaded public procurement laws that boosted its spending in Bulgaria and that is the main reason for planning to strip its power distribution licences in the Balkan country, the regulator said on Wednesday.
The State Energy and Water Regulatory Commission will now give a week for CEZ to comment on the process before holding an open hearing on April 16, said Andon Rokov, a member of the energy regulator.
"The process has only started and if the commission is convinced the breaches are reparable and CEZ agrees to comply with regulations, they may also not be revoked," he told reporters. "They however will be revoked if the breaches cannot be repaired."