Sofia-based Heating Utility Has Run Up Debts of BGN 627 M

Heating utility Toplofikatsiya Sofia has run up debts of BGN 627 M in unpaid gas bills.

The major portion of the debt, BGN 500 M, is to be paid to the Bulgarian Energy Holding (BEH), while the remaining sum of BGN 127 M is owed to state-owned gas supplier Bulgargaz.

The data was presented Wednesday during a sitting of the State Commission for Energy and Water Regulation (DKEVR).

The agenda of Wednesday’s sitting of DKEVR included a discussion on the business plan of the heating utility by end-2019.

Lyuben Paralanov, Chair of the Board of Directors of the company, made clear that the debt of Toplofikatsiya Sofia to Bulgargaz equaled the amount it expected to receive from the National Electric Company (NEK).

“As you know, NEK makes only partial payments to power producers. As regards debs of Toplofikatsiya Sofia to BEH, talks are underway for deferred payment because the company cannot settle it in the short term,” he said, as cited by Pressa daily.

Paralanov claimed that the collection rate of bills of customers of the Sofia-based heating utility stood at 82% and the remaining 18% were either bills of customers who had negotiated a deferred payment scheme or bills over which court proceedings were underway.

“Debts of customers which have remained unpaid over 3 years, which is the current length of the statute of limitations, stand at a total of BGN 120 M,” he informed.

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