Bulgaria's NEK Owes BGN 100 M to Heating Utility Toplofikatsia

Sofia's heating utility Toplofikatsia must receive BGN 100 M by Bulgaria's National Electricity Company (NEK) for the energy it has produced.

Toplofikatsia Sofia's chief executive Stoyan Tsvetanov said that NEK's liabilities, if paid, will help the company to get rid of its own debts amounting to BGN 628 M, the website Money.bg reports.

This is the last of many claims to the indebted state-owned NEK, which has recently been embroiled in a dispute with power distributors operating in Bulgaria over financial obligations worth hundreds of millions of BGN.

Toplofikatsia is no less affected by ongoing political affairs, after in February the Competition Protection Commission (CPC) decided to impose a penalty on the heating utility due to alleged abuse of dominant position.

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