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Bulgaria to revoke permits of foreign power cos
Bulgaria moves to revoke licenses of 3 foreign-controlled power distributors
Associated Press
2014-03-19 11:22 PM

SOFIA, Bulgaria (AP) -- Bulgaria's energy regulator is moving to revoke the permits of three foreign-controlled companies that supply all the power in this EU country of 7.3 million people.

The regulator said in a statement on Wednesday it will revoke the licenses for the "public supply of electricity" that it had issued to Energo Pro and CEZ, both Czech companies, and to Austria's EVN.

It said the three companies had failed to pay some 160 million euros ($226.5 million) owed to state power provider NEK by a Tuesday deadline. They were given seven days to "cease the violations and remedy their consequences."

The companies have denied any wrongdoing, saying that NEK had failed to repay them money owed for wind and solar power installations.

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