Bulgaria's energy authority fined 6 energy companies for market manipulation

Six electricity companies were fined by the Energy and Water Regulatory Commission, for a total amount of BGN 1.25 million, for market manipulation, the energy regulator said on November 29.

The largest fine was imposed on the state-owned National Electricity Company - more than 625,000 BGN. The other companies fined by the regulator were - Interprom, Energy MT, Most Energy, Grand Energy Distribution and Interelectric.

According to the findings of the watchdog’s inspection, they violated European rules on electricity trading, the so-called REMIT regulation. This happened in the first half of 2019, when all six companies carried out transactions that manipulated the market.

The energy regulator's decision can be appealed within 14 days.