Bulgarian Heating Utilities Owe Gas Monopoly Bulgargaz Total 87 Mln Euro

Bulgarian Heating Utilities Owe Gas Monopoly Bulgargaz Total 87 Mln Euro

Bulgarian heating utilities owe state-owned gas monopoly Bulgargaz over 170 million levs ($112.2 million/86.9 million euro) for gas supplies, Bulgargaz's chief executive officer said.

The capital city's heating utility, Toplofikatsiya Sofia, is the biggest Bulgargaz debtor with liabilities amounting to 134 million levs, Dimitar Gogov told reporters on Friday on the sidelines of a forum of the Bulgarian heating utilities held in Sofia.

The high volume of uncollected receivables has contributed to the total loss of 200 million lev loss accumulated by Bulgargaz over the past four years, according to Gogov.

At present, a total of 15 district heating companies operate in Bulgaria as only two of them, in Sofia and Shumen, are state-owned.

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