Sofia Heating Utility - Bulgaria’s Ministry of Economy and Energy and the Sofia Municipality agreed to start the relevant procedures for the privatization of 100 percent of the stock of the Sofia Heating Utility, the ministry and the municipality announced after a meeting on June 7th. The liabilities of the utility will have to be assumed by the new owner. A general meeting of the shareholders of the Sofia Heating Utility has been scheduled for June 23 and is expected to decide on the removal of the current board of managers of the utility and to inspect the financial reports of the company.

The Russian Gasprom is said to have expressed interest in the privatization of the Sofia Heating Utility. The Czech ČEZ and the French Dalkia have also studied the options to privatize the Sofia Heating utility. Currently, the company is experiencing serious difficulties in collecting its due from the subscribers and to pay off its own debts. By the end of March, the company owed the national natural gas monopoly provider more than BGN 158 million.