Monday, January 21, 2013 10:39 am
Albania cancels national grid operator's license
The Associated Press
State regulator ERE announced Monday that electricity distribution would return to government control after the firm's subsidiary CEZ Shperndarje sh.a, which holds a 76-percent stake in the grid operator, saw its license revoked.
CEZ argued it was forced to introduce blackouts because of unpaid bills, while the government countered that the company had ignored its commitments for infrastructure investment.
The Czech company said it would seek compensation, arguing that the decision was in "in violation of the local legislation."