Bulgaria, Working group will prepare a plan for the Toplifikatsiya Sofia’s financial recovery

, SEE Energy News

A working group, consisting of the representatives from the Ministry of Energy, the Bulgarian Energy Holding (BEH), the Sofia municipality, the Sofia City Council and heating utility Toplofikatsiya Sofia, will prepare a plan for the company’s financial recovery.

Sofia Mayor Yordanka Fandakova said that a meeting was held with caretaker Prime Minister Galab Donev, the Ministers of Energy, Finance, and Economy, to consider possible solutions for the dire financial situation of the heating utility against the backdrop of rising natural gas prices. According to estimates, with the current gas prices, the company will accumulate new liabilities in the amount of 250 million euros by the end of the year.

Mayor Fandakova said that the previous Government did not adopt compensations for natural gas, only for electricity. This means that all heating utilities and companies are operating at these difficult times without any compensation for gas.

The working group is expected to draft a recovery plan for the company in a very short time, which will also include the implementation of a modernization plan.