site.btaGovernment May Take Over Sofia Heating Company Liabilities Worth up to BGN 1.6 Bln

The government may take over up to BGN 1.6 billion in liabilities which Toplofikacia Sofia, the district heating company in the Bulgarian capital, owes to the Bulgarian Energy Holding and state-owned natural gas supplier Bulgargaz, the National Assembly resolved on Thursday, adopting a provision of the 2024 State Budget Bill on second reading.

The acquisition may be carried out at a price set by an independent assessor and in keeping with state aid legislation. It requires a proposal by the minister of energy and a decision by the Council of Ministers.

To fund the payments for such a deal, the Council of Ministers will revise the Energy Ministry budget as per the Public Finances Act, the MPs resolved.

Reacting to fears voiced by opposition lawmakers, Finance Minister Assen Vassilev said the fact that the Council of Ministers will take over liabilities to the Bulgarian Energy Holding does not mean that it will take over control of the group.