Total revenues rose to BGN 216.6 million in the January-June period, from BGN 195.6 million in the prior year, CEZ
Distribution said in a bourse filing.
The agreement with the EC forces CEZ
to sell one of the mentioned power producing units, but it does not prevent the group from disposing of more power plants if it gets attractive bids.
Shares of CEZ
Distribution Bulgaria were not traded as of 13:30 CET on Monday on the Bulgarian Stock Exchange.
Central Cooperative Bank (BUL:4CF) will manage the sale of the government's stakes in CEZ
Razpredelenie and CEZ
Elektro, while Bulbrokers will run the floatation of the state's interests in EVN Bulgaria Elektrorazpredelenie and EVN Elektrosnabdyavane.
In January, CEZ
Group announced it had decided to study the options related to its equity investments in Bulgaria, based on the interest of several unnamed investors.
subsidiary is the largest electricity grid operator in Bulgaria covering the needs of several million customers.
The Bulgarian Socialist Party (BSP), which will probably lead the next government after the expected snap elections, are considering the re-nationalisation of the electricity distribution subsidiary from CEZ
, Bulgarian shadow minister of energy Javor Kujumdziev said in an interview with Czech daily Lidove noviny.Bulgaria's energy regulator this month launched a process to strip CEZ
of its licences in the Balkan country, accusing it of evading public procurement law among other malpractices.
Bulgaria's anti-trust regulator has accused the local electricity distribution arm of Czech power group CEZ
of abusing its dominant market position.
Bulgaria will consider cancelling CEZ
AS's power- distribution license after a financial investigation into the local units of the largest Czech utility.