Bulgaria: Dominance gas utility fined for abuse of market power

Bulgaria’s largest state natural gas provider has been fined nearly $16 million for abusing its market power, according to reports.

The nation’s Commission for Protection of Competition announced the fines against Bulgargaz on Wednesday, noting that the company strong-armed its clients into signing extended contracts without negotiating terms and conditions. The abuse of dominance occurred between 2010 and 2012, the watchdog said.

In a statement, Bulgargaz suggested that it would not comment until it had thoroughly examined the Commission’s allegations against the company.

According to reports, the Bulgarian gas giant imports gas from Gazprom and other producers.

Full content: Reuters

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