Bulgaria's Energy and Economy Ministry is considering survival scenarios for the debt-ridden Sofia district heating utility that range between insolvency and sell-off. Sofia municipal council is to pick the survival option since the municipality controls 59 pct and the state holds the remaining 41-pct stake in the Sofia heating firm. For now the municipality considers the bail-out plan as the best survival option.

The Sofia heating utility faces the option to seek insolvency procedure over its 158 mln Bulgarian levs ($97 mln/80.5 mln euro) debt to gas major Bulgargas and about 200 mln levs ($122.7 mln/101.8 mln euro) uncollected receivables from subscribers.

According to Energy Ministry sources, Russian Gazprom, Czech ČEZ, Austrian EVN and French Dalkia have shown interest in acquiring the Sofia heating firm.