A PYMNTS Company

Bulgaria: EU investigation finds energy market violations

By  |  August 12, 2014

The European Commission announced preliminary findings of its investigation into Bulgaria’s energy industry on Tuesday, saying that it has found evidence that state-owned companies in the nation have breached competition law.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Bulgaria Energy Holding, which is the umbrella company for state-owned energy companies, was reportedly found to have violated antitrust rules by restricting energy resale based on territory. According to the Commission, BEH could be harming competition by imposing unfair restrictions on where its energy may be resold, and on whether the electricity can be exports and sold outside Bulgarian boarders.

    The Commission said it found additional questionable business practices of BEH that collectively amount to an abuse of BEH’s market dominance.

    The EU first launched its investigation into the matter in November 2012. The Commission has now sent a statement of objections to the company, and could soon issue fines, reports say.

    Full content: Sofia Globe

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.