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Traikov: Transaction on E. ON Bulgaria depends on SEWRC

A meeting of the Energy Minister with the new owner is pending

3E news
06-12-2011 08:40:00

If hypothetically the State Energy and Water Regulatory Commission (SEWRC) refuses to change the license of the Czech company Energo Pro for distribution and supply in Northeastern Bulgaria, the transaction for acquisition of E. ON Bulgaria won’t be finalized, Minister of Economy, Energy and Tourism Traicho Traikov said on Monday, quoted by BTA. But according to him there is no problem because there is license holder and this is E.ON Bulgaria. The law requires a change in the company's licenses after the transaction. On Saturday, the Czech company Energo Pro acquired the Bulgarian subsidiary of German company for 133 million euros.


"Any company is in the regulatory scope of the SEWRC, there is no way to compromise with the obligations in customer service," said the Minister. A meeting with representatives of the new owner is pending.


The Czech company, which invests mainly in hydropower, has distribution company in Georgia. On Monday Traikov met with the Georgian Minister of Economy Vera Coba, which is visiting Bulgaria. He has received good feedback on the work of the Czech company.

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