Government Contemplates Absorbing BGN 1.6 Billion Liabilities from Sofia Heating Company

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz. This provision, part of the 2024 State Budget Bill's second reading, empowers the government to proceed with the acquisition at a value determined by an impartial assessor, aligning with state aid regulations.

For this acquisition to materialize, it necessitates a formal proposal from the Minister of Energy, followed by a decisive resolution from the Council of Ministers. To cover the financial obligations stemming from this prospective deal, the Council of Ministers is slated to modify the Energy Ministry's budget in accordance with the Public Finances Act, as resolved by the Members of Parliament.

In response to apprehensions voiced by opposition legislators, Finance Minister Assen Vassilev clarified that while the Council of Ministers might assume the liabilities owed to the Bulgarian Energy Holding, this doesn't imply a transfer of control over the conglomerate.

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