Public natural gas supplier Bulgargaz EAD has lifted the distraint on the accounts of the Sofia heating utility company after the two companies concluded an out-of-court settlement and the heating utility made a partial payment of its liabilities in the amount of BGN 10 million. At the beginning of the week a meeting was held between the management of the Ministry of Energy and Sofia Municipality, the purpose of which was to seek a solution for a permanent settlement of the liabilities of the Sofia heating utility.
"Bulgargaz EAD distrained one of the heating utility's bank accounts through an application for securing a future claim on September 13, 2024. The main reason is that unlike in previous years, when significantly larger funds were received in the summer, with which the Sofia heating utility used to repay its winter debts, now the financial receipts do not even cover the value of their summer invoices. At the moment, the heating utility's debt to Bulgargaz EAD amounts to BGN 856 million, and its repayment rates in the first nine months of this year are decreasing compared to the same period last year. From January to September 2024, this decrease is by BGN 166 million.
In view of taking medium-term measures to solve the problem of reduced payments by the Sofia heating utility, leading to the accumulation of new debt, on Friday Bulgargaz EAD sent a proposal for the coordination of a payment plan-schedule during the upcoming heating season. A repayment plan is to be drafted which is acceptable to both companies.
/MY/
