Sofia Central Heating utility reports a profit of BGN 23 mln

“The profit of Sofia Central Heating utility for 2011 is BGN 23 mln, the company’s Executive Director, Stoyan Tsvetanov, said today. He explained that the utility has been in the red since 2007 and its losses reached BGN 135 mln. At the same time, customers’ liabilities to Sofia Central Heating stand at about BGN 260 mln. In 2011, the company paid a total of BGN 481 mln of current liabilities to Bulgargaz and another BGN 25 mln in accordance with the agreement on deferred payment of arrears.

Sofia Central Heating reports that during the recent extremely cold days, the utility produces 1,700 MW of heating energy and 200 MW of electricity. According to Tsvetanov, 64% of the subscribers pay their heating bills regularly.

The company has launched a BGN 32 mln project for replacing a turbine at the Sofia TPP and this will save up to 10% of the consumption of gas. Sofia Central Heating will also introduce a modern information system in order to improve the services to customers. The company plans to invest BGN 47 mln this year.

Meanwhile, Energy Minister Traicho Traikov said that households which switch to natural gas heating may receive up to BGN 3,000. The money for this subsidy amounts to BGN 20 mln, to be extended by the Kozloduy International Fund.

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