site.btaEnergy Regulator Ready to Check CEZ Deal Despite Lack of Criteria for This
NW 18:35:31 21-06-2019
DD1841NW.118
118 ECONOMY - ENERGY REGULATOR - CEZ DEAL - CHECK
Energy Regulator Ready to
Check CEZ Deal Despite Lack of
Criteria for This
Sofia, June 21 (BTA) - The Energy and Water Regulatory Commission (EWRC) is following the developments in the deal for the acquisition of the CEZ energy group's assets in Bulgaria by Eurohold Bulgaria AD, and will conduct a check in case the deal is finalized, EWRC head Ivan Ivanov told reporters on Friday. He specified, however, that the criteria for such a check are still unclear because the responsible institutions have not elaborated them.
On June 20, Eurohold Bulgaria AD said it had signed an agreement with CEZ on the acquisition of the Czech energy group's asserts in Bulgaria for 335 million euro. The purchase will be financed through a combination of equity and debt financing.
"We are currently following what is happening with the deal between CEZ and Eurohold and if it passes through all remaining institutions that have to give their permission, at the end the EWRC will issue a position. We will apply the law as it is," Ivanov commented. Regarding the missing criteria for a check by the energy regulator, he said that if it comes to that, the EWRC itself will create objective criteria.
Energy Minister Temenouzhka Petkova told the media that nothing would be done that might affect or put at risk the energy security of Bulgaria and Bulgarian consumers. In her words, meetings have not been held either with the previous potential buyer, Inercom Bulgaria, or with the new one. "As I have always stated, this is a deal implemented in accordance with Czech law; our Government has nothing to do with this matter. For us it is important to guarantee the security of Bulgaria's electricity system," Petkova commented.
She recalled that each potential buyer of CEZ's assets has to be assessed by the Commission for Protection of Competition, the Financial Supervision Commission, and EWRC.
CEZ's assets in Bulgaria comprise the CEZ Distribution Bulgaria electricity distribution company, the CEZ Electro Bulgaria power supplier, the CEZ Trade Bulgaria licensed electricity trader, the CEZ ICT Bulgaria IT service provider, the Free Energy Project Oreshetz solar park, the Bara Group biomass-fired power plant, and CEZ Bulgaria. LN/DS
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DD1841NW.118
118 ECONOMY - ENERGY REGULATOR - CEZ DEAL - CHECK
Energy Regulator Ready to
Check CEZ Deal Despite Lack of
Criteria for This
Sofia, June 21 (BTA) - The Energy and Water Regulatory Commission (EWRC) is following the developments in the deal for the acquisition of the CEZ energy group's assets in Bulgaria by Eurohold Bulgaria AD, and will conduct a check in case the deal is finalized, EWRC head Ivan Ivanov told reporters on Friday. He specified, however, that the criteria for such a check are still unclear because the responsible institutions have not elaborated them.
On June 20, Eurohold Bulgaria AD said it had signed an agreement with CEZ on the acquisition of the Czech energy group's asserts in Bulgaria for 335 million euro. The purchase will be financed through a combination of equity and debt financing.
"We are currently following what is happening with the deal between CEZ and Eurohold and if it passes through all remaining institutions that have to give their permission, at the end the EWRC will issue a position. We will apply the law as it is," Ivanov commented. Regarding the missing criteria for a check by the energy regulator, he said that if it comes to that, the EWRC itself will create objective criteria.
Energy Minister Temenouzhka Petkova told the media that nothing would be done that might affect or put at risk the energy security of Bulgaria and Bulgarian consumers. In her words, meetings have not been held either with the previous potential buyer, Inercom Bulgaria, or with the new one. "As I have always stated, this is a deal implemented in accordance with Czech law; our Government has nothing to do with this matter. For us it is important to guarantee the security of Bulgaria's electricity system," Petkova commented.
She recalled that each potential buyer of CEZ's assets has to be assessed by the Commission for Protection of Competition, the Financial Supervision Commission, and EWRC.
CEZ's assets in Bulgaria comprise the CEZ Distribution Bulgaria electricity distribution company, the CEZ Electro Bulgaria power supplier, the CEZ Trade Bulgaria licensed electricity trader, the CEZ ICT Bulgaria IT service provider, the Free Energy Project Oreshetz solar park, the Bara Group biomass-fired power plant, and CEZ Bulgaria. LN/DS
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