Today the Sofia Municipal Council adopted the first two tasks - a modernization plan and a financial model from the detailed modernization plan of Toplofikacia Sofia EAD. The project is being implemented by the American consultant Black and Witch Management Consulting Ltd., according to a grant agreement between the Sofia Municipality and the United States Trade and Development Agency.  The plan includes technical, operational and financial stabilization, capacity modernization and company management. Following today's decision of the SМC, the Mayor of Sofia Municipality and the Executive Director of Toplofikacia Sofia EAD will start implementing the recommendations of the plan, which will coordinate with state institutions including the Ministry of Finance, the Ministry of Energy, the Ministry of Environment and the National Assembly committees.

According to US experts, the implementation of the plan would ensure:

- Financial stability and ability to service existing debt and recover costs for improvements;

- Stability and continuity of heat supply by building a modern and integrated network;

- Socially acceptable prices for over 1 million consumers;

- Reduction of nitrogen oxide emissions, according to EU Directive 2012/27;

- Significantly improved quality of service and customer satisfaction.

US experts analyzed the technical and financial condition of the company, the legal framework and the management structure.

"The proposed plan will turn Toplofikacia Sofia into a modern and highly efficient company that meets European environmental requirements," said Proshko Proshkov, chairman of the Commission for Engineering Infrastructure and Energy Planning at the Sofia Municipal Council.