ENERGO-PRO Sales reschedules debt in the amount of 454 thousand to Plumbing Copper Kladenets

The City Council of Kubrat decided to authorize Meden Kladenets Plumbing to agree with ENERGO-PRO Sales for rescheduling of accumulated old obligations of the water supply company for electricity in the amount of 454 thousand leva. The decision to reschedule the debt was taken at a meeting of the City Council, in which the manager of ENERGO-PRO Varna Stefan Abadzhiev also participated.

The problem of payment of obligations for consumed electricity of the Meden Kladenets Plumbing has been developing for years. During this time, the electricity company has made numerous compromises — since 2008, 6 agreements have been concluded for the rescheduling of accumulated liabilities. Unfortunately, the efforts made by both sides to solve this problem did not give the expected result - the water company is not able to pay its obligations in full and the debt in recent months has continued to grow.

“For years we have been striving to solve the problems with the payments of Plumbing Meden Kladenets in partnership and open dialogue. We have made a number of compromises with the awareness of the social significance of the water supply company. We have not taken extreme measures in the past months in order not to allow inconvenience to the people of the Municipality. After four consecutive reductions in electricity prices in 2013 and 2014, which significantly cut the electricity company's revenues, we are not in a position to make commitments of this magnitude. They create a risk for the financial flow in our companies, in other words, for the sustainable electricity supply in North-East Bulgaria.”, commented the manager of ENERGO-PRO Varna Stefan Abadzhiev.

The decision of the Municipal Council envisages that the accumulated debt of Plumbing Meden Kladenets for electricity will be deferred until the end of 2015, and at the same time as the contributions on the old debt, the water supply company will have a commitment to fully cover its current liabilities.

“We are facing a difficult decision. Of course, when signing a rescheduling agreement, the parties expect it to be strictly implemented — in this case, VK Meden Kladenets regularly fulfills its obligations both on old debts and current accounts, in order to avoid limiting the electricity supply to the water supply company's facilities. Our desire is to solve the issue in partnership and for the benefit of the residents of the municipality.”, added the manager of the electricity company.