Balgarianovinite.com The Confederation of Employers and Industrialists in Bulgaria (KRIB) called on the Sofia Municipal Council to initiate, as soon as possible, the concession procedure for Toplofikatsiya Sofia EAD, in light of the company’s record loss in 2025 and the immediate risks now facing its financial autonomy and liquidity. KRIB believes that Toplofikatsiya Sofia is a systemically important company for Bulgaria’s energy sector and that its financial collapse would have a domino effect on the stability of the country’s entire energy system.
Toplofikatsiya Sofia EAD provides services to a substantial number of commercial, industrial and public facilities, for which security of supply, cost predictability and service quality are key factors in business planning, investment decisions and employment, KRIB said. The company’s ongoing financial instability, the accumulation of liabilities and limited investment opportunities are creating uncertainty that is negatively affecting the business environment and threatening the stability of the state budget at a time when the European Union opened an excessive deficit procedure against Bulgaria.
KRIB cited the latest data published in the minutes of the closed meeting of the Energy and Water Regulatory Commission (EWRC) Energy Panel on July 1, 2026, according to which Toplofikatsiya Sofia EAD had a record loss of BGN 426 million in 2025, three times worse than its financial result for 2024. “Despite the strategy to strengthen the company’s cogeneration capacities, it is electricity sales that are falling the most (24%), while costs are rising under the pressure of inflation and the lack of optimization and digitalization of processes, visible from the number of people employed under an employment contract – the staggering number of 2,200 people.”
At the same time, the depreciated infrastructure and high technical losses significantly increase the risk of breakdowns and service interruptions, which lead to direct economic losses, production difficulties and additional unforeseen costs. Should the company incur even half of its current loss next year, both the capital city and Bulgaria’s energy system would face a direct risk to Toplofikatsiya Sofia’s solvency and financial autonomy, a risk that has been acknowledged by the EWRC, KRIB added.
“In light of the above, we call on the Sofia Municipal Council to proceed without unnecessary delay, without embarking on further unsuccessful experiments, and without commissioning additional analyses, to initiate the necessary steps for preparing the concession of Toplofikatsiya Sofia EAD. We consider this to be a strategic measure with the potential to strengthen Bulgaria’s energy security, improve economic resilience, and enhance the competitiveness of both Sofia and the country as a whole,” KRIB’s statement said. KRIB: After Record Loss of EUR 220 Million, Sofia Municipal Council Must Put Toplofikatsiya Sofia Up for Concession 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-08-04 10:55:40 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law
