Bulgarian Energy Holding
Bulgargaz Blocks Accounts of Toplofikatsia Sofia Amid Ongoing Debt Crisis
Bulgaria's state gas supply company, "Bulgargaz," has once again blocked all accounts belonging to the municipal heating company, "Toplofikatsia Sofia" (Heating Systems Sofia). This development was initially reported by" Focus" media, citing reliable sources, and later confirmed by BNT.
Bulgartransgaz Under European Scrutiny for Controversial Gas Agreement
This morning, the European Prosecutor's Office gained access to the gas operator "Bulgartransgaz" with the assistance of local police, as reported by bTV. The European Commission has declined to comment on the ongoing investigation, and the exact number of participants remains undisclosed.
Bulgaria Sees 4.5% Rise in Natural Gas Prices for August
In August, natural gas prices in Bulgaria will see a slight increase. The Commission for Energy and Water Regulation has set the price at 60.75 leva per MWh, excluding additional costs such as access, transmission, excise duty, and VAT. This price applies to sales by "Bulgargaz" EAD to final suppliers and those licensed for thermal energy production and transmission.
Will Bulgaria Miss Out on €653 Million? Urgent Reforms Needed to Secure Payment from the EU
Acting Deputy Prime Minister and Finance Minister Lyudmila Petkova has raised concerns that Bulgaria might not receive the full second payment of 653 million euros under the Recovery and Resilience Plan (RRP). Petkova shared this warning during a parliamentary hearing, highlighting that several key commitments have yet to be fulfilled.
Concerning: Bulgaria Transforms Into Net Importer Of Electricity Amidst Rising Consumption
As a consequence of the recent cold spell gripping Bulgaria, the nation experienced a notable shift in its energy dynamics, emerging as a net importer of electricity on January 9. Despite possessing ample capacity, Bulgaria's electricity production struggles to compete in the market, leading to increased reliance on neighboring countries.
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.
Bulgaria: “Toplofikatsia” and “Bulgargaz” have Signed a Contract, Sofia's Heating is Assured
All necessary quantities of natural gas for the operation of "Toplofikatsia Sofia" (Heating Systems Sofia) will be provided. A contract has already been signed between the district heating company and Bulgargaz.
This became clear after a meeting between the Acting Minister of Energy Rosen Hristov and the Chairman of the Sofia Municipal Council Georgi Georgiev.
Bulgaria: "Toplofikatsia Sofia" Owes 399 Million Levs to "Bulgargaz"
"Toplofikatsia Sofia (Heating Systems Sofia) owes BGN 399 million to Bulgargaz," Denitsa Zlateva, executive director of Bulgargaz, announced on BNT.
She reminded that "Bulgargaz" cannot by law stop the supply of gas to heating companies and will seek new loans from the Ministry of Energy.
Russia suspends Gas Supplies to Bulgaria tonight
Today, Bulgargaz received a notification that natural gas supplies from Gazprom Export will be suspended as of April 27.
"The Bulgarian side has fully fulfilled its obligations and has made all payments required under this agreement, in a timely manner, strictly and in accordance with its clauses," the energy ministry said tonight.
The department also states:
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The Entire Management of Bulgargaz has been Replaced
The entire management of Bulgargaz has been replaced following a decision by the Bulgarian Energy Holding, BNR reports.
Lyudmil Yotsov has been elected executive director of the company - in place of Nikolay Pavlov, according to a protocol of BEH, published in the Commercial Register.