Bulgarian power distribution company Energo-Pro said the
International Centre for Settlement of Investment Disputes of the World Bank
(ICSID) admitted a 54 million euro ($60.86 million) arbitration claim it has
filedagainst Bulgaria.
Energo-Profiled the claim in 2013, seeking
compensation for costs resulting from its obligations related to the purchase of
electricity generated from renewable sources, investments and to its operations,
the company said in a statement published on its website.
The deficit
resulting from the pricing decisions of the State Energy and Water Regulatory
Commission in the 2012-2014 period, when the company was not recovered these
costs, puts at serious risk the financial stability of the companies of the
Energo-Pro group in Bulgaria, it added.