Residents of Sofia may soon enjoy a significant decrease in their heating and hot water bills, as "Toplofikatsia Sofia" has announced its intention to lower prices by 30% from July 1, 2024. The company has submitted an application to adjust the price of thermal energy for the upcoming regulatory period, citing various factors contributing to the proposed reduction.

According to the company's statement, the new proposed price of BGN 97.78 per megawatt hour reflects the recent decrease in stock exchange prices of natural gas and carbon emissions. Additionally, the dynamics of socio-economic processes in Bulgaria have influenced the decision, along with the observation that the price of natural gas has been lower than the price of thermal energy set by the State Agency of Energy Regulation (SAER) during the current regulatory period.

This marks the second consecutive year that "Toplofikatsia Sofia" has sought a reduction in prices, emphasizing the company's commitment to finding a balance between maintaining optimal financial stability and ensuring affordability for its customers.

Operating within a strictly regulated environment, the company will await the final decision of SAER, expected by June 30, 2024. The regulator will carefully consider various pricing elements based on current market conditions and other relevant factors.

Should the proposed price reduction be approved, it would bring significant relief to residents of Sofia, offering them more affordable access to essential heating and hot water services.

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