ELECTRICITY DISTRIBUTOR CEZ FILED A CLAIM WORTH MILLIONS OF EURO AGAINST BULGARIA

The Check energy group CEZ filed an arbitration claim against Bulgaria. Thus, the three electricity distribution companies operating in Bulgaria are suing the country saying it did not provide appropriate investment climate.

The first claim against Bulgaria was filed in the summer of 2014 by the Austrian electricity distribution company EVN. The claim amounts to more than 1 billion euro.

In 2015, Energo-Pro electricity distribution Company also filed a claim, which amount to 54 million euro.

A statement by CEZ says that its damages claim amounts to hundreds of millions of euro. The company had offered the Bulgarian government to settle the dispute amicably but no negotiations took place.