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ČEZ starts arbitration in Albania row

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Czech power group ČEZ has started international arbitration over its long-running dispute with Albania, where regulators stripped the utility of its licence last month. Albania’s power regulator revoked the distribution licence of ČEZ’s local unit, ČEZ Shperndarje, on Jan. 21, holding central Europe’s biggest utility liable for damages for importing insufficient electricity and not investing in the country’s power grid. The Balkan country’s government has estimated the cost of ČEZ Shperndarje’s alleged failings at USD 1 billion.

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