Electrodistribution North AD (Bulgaria)

Elektrorazpredelenie Gorna Oryahovitsa (Electricity Distribution Company-Gorna Oryahovitsa), now Electrodistribution North AD, was established in 2000 after retail sales of electricity were spun off the country's power export monopoly National Electric Company (NEC). Its core business consists of distribution of electric power in 9 Bulgarian regions - Varna, Veliko Tarnovo, Gabrovo, Dobrich, Razgrad, Ruse, Silistra, Targovishte and Shumen. The company operates and maintains electricity distribution grid of around 42,185 kilometers and 26 sub-stations.
In September 2004, German utility E.ON signed a deal to buy 67% stakes in the power distribution utilities in Gorna Oryahovitsa and in the Black Sea port of Varna. In January 2006, the European Bank for Reconstruction and Development bought 8.0% stakes in the two Bulgarian power utilities owned by E.ON Energie, paying a total of EUR 16.8 million. In 2006, Elektrorazpredelenie Gorna Oryahovitsa was renamed into E.ON Bulgaria Networks in line with the legal requirement for Bulgarian electricity distribution companies to separate their distribution from sales activities. Respectively, Elektrorazpredelenie Varna renamed into E.ON Bulgaria Sales. In mid-2012 E.ON sold 100% of E.ON Bulgaria to Czech energy firm Energo-Pro. At the time of the deal E.ON Bulgaria held stakes of 67% in each of E.ON Bulgaria Grid and E.ON Bulgaria Sales. In October 2012 the Bulgarian privatisation agency offered for sale its 33% skates in Enеrgo-Pro Grid and Enеrgo-Pro Sales.