Bulgaria’s Parliament Established Ad-hoc Committee to Look into CEZ Assets Sale

Bulgaria’s Parliament on 14^th of March established an ad-hoc committee of inquiry to examine the circumstances of the planned sale of power utility CEZ’s assets in Bulgaria and the privatisation of the company in 2004.

The proposal to set up a committee came from the opposition Bulgarian Socialist Party and received the support of the ruling coalition.

The motion for the committee was approved with 177 votes in favour. It will be chaired by socialist MP Zhelyo Boichev.

Prime Minister Boyko Borissov also backed the decision. He urged MPs to announce not only the truth about the deal with CEZ but also to disclose the proven violations of the three energy distribution companies operating in the country over the years. The prime minister has rejected CEZ Group's claims that the government has hindered the energy company over the years. He added the government did not stand in the way of any of the electricity distribution companies but wanted them to comply with their contracts and commitments.

Borissov pointed out that some of the proven violations of the electricity distribution companies included the lack of sufficient investments in the electricity distribution and transmission grid.

Earlier today, the chair of the energy regulator, Ivan Ivanov, assured that even if the ownership of CEZ is changed, the public interest in erms of electricity prices will be guaranteed.

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