Bulgargaz lifted the lien on the account of Heating Sofia EAD

"Bulgargaz" EAD lifted the lien imposed on the account of "Heating Sofia" EAD after the two companies concluded an out-of-court settlement and Heating Sofia made a partial payment of its obligations in the amount of BGN 10 million, the gas company announced. We remind you that at the beginning of the week, a meeting was held between the leadership of the Ministry of Energy and the Sofia Municipality, the purpose of which was to seek a solution for a permanent settlement of the obligations of "Heating Sofia" EAD.

"Bulgargaz" EAD imposed a garnishment on one of the bank accounts of "Heating Sofia" EAD through a request filed on September 13 of this year. application to request security for a future claim. The main reason is that, unlike previous years, when significantly larger funds were received in the summer, with which Heating Sofia paid off its winter obligations, now the financial receipts do not even cover the value of their summer invoices. At the moment, the liabilities of "Heating Sofia" EAD to "Bulgargaz" EAD already amount to BGN 856 million, and the rates of repayment during the nine months of this year are decreasing compared to the same period last year. From January to September 2024, this reduction is BGN 166 million.

With a view to taking medium-term measures to solve the problem of reduced payments by "Heating Sofia", leading to the accumulation of new liabilities, today "Bulgargaz" EAD sent a proposal for agreeing on a schedule for making payments during the upcoming heating season. A repayment plan is to be prepared that is acceptable to "Heating Sofia" EAD and satisfactory to "Bulgargaz" EAD.