site.btaElectricity Distribution Companies Have Until Friday to Report on Investments in Power Outage Areas, EWRC Chair Says

The three electricity distribution companies have until Friday to provide detailed information on the investments made in the areas affected by power cuts during the holidays, said chair of the Energy and Water Regulatory Commission (EWRC) Ivan Ivanov on Wednesday during a parliamentary hearing on the power outage crisis.

"I suspect that no investments have been made in these places," Ivanov said, stressing that he had signed orders to set up three working groups to carry out extraordinary inspections of the companies. The results of these checks will be made public. After them, the EWRC will take measures, including mandatory instructions, prescriptions and the imposition of financial penalties if violations are found. In addition, when approving investment plans for the coming year, the regulator will require companies to provide the necessary funds for critical sections of the electricity grid.

Ivanov stressed that the EWRC has not withdrawn investment funds from companies. The regulator carries out annual monitoring to ensure the good condition of the power grids. The chairman of the regulator recalled that in 2017, the year in which this annual control was introduced, the EWRC imposed fines on the three electricity distribution companies in the total amount of BGN 34 million. This resulted in a reduction in the price of electricity for consumers. In 2018, the total fine was BGN 14 million. Following these penalties, the companies have improved their discipline, but the EWRC continues its annual control over the implementation of investment programmes.