CEZ Bulgaria reports increase in outstanding claims to clients in Q1 2011.

By bne IntelliNews May 16, 2011
CEZ Bulgaria, majority controlled by Czech CEZ and running the grids in western Bulgaria, informed that the value of outstanding bills of its clients has increased by 33.3% y/y to BGN 88mn (EUR 45mn) in Q1, Dnevnik Daily reported. Some 60% of the total amount is due by households. Few months ago, CEZ Bulgaria proposed an increase in the price of the electricity by an average of 13.12% as of July 1, including a 17.5% price hike for households. The company explained the request with the necessity to invest in the distribution network.
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