Sofia’s central heating provider Toplofikatsia proposed a four per cent price increase in the capital.

Toplofikatsia managing director Petko Milevski said as quoted by Focus news agency that the demanded price hike was within the minimal possible levels.

Yet the increase is insufficient to deal with the company's financial problems, Milevski said.

Milevski said that Toplofikatsia will rely in the future on electricity rather than on heating production.

Heating consumer price will reach 62.67 leva per megawatt hour, as compared to the current price of 60.25 leva per megawatt hour.

The price hike proposal will be examined and eventually approved by the State Energy and Water Regulation Commission (SEWRC) within a month and new prices will be valid from the next heating season.

Price increase is needed due to gas price increase. In case its request is turned down, Toplofikatsia can face a loss of up to 40 million leva.