„Toplofikatsiya Ruse“ is the most profitable district heating company in Bulgaria in 2025. Its profit reaches 22.918 million BGN compared to 2.361 million BGN a year earlier. The data is from the Bulgarian Enterprise Information System BEIS of the Bulgarian Industrial Chamber.
Only five out of a total of 16 companies in the sector „Production and distribution of heat and cooling energy“ end the year with a positive financial result.
Ruse is in the lead in terms of profit
In second place is „Toplofikatsiya-Sliven-eng. Angel Angelov“ EAD with a profit of 2.945 million BGN, and the third position is for „Toplofikatsiya - Pernik“ AD with 1.221 million BGN.
The companies in Petrich and Montana also report a profit. „Toplofikatsiya Petrich“ EAD goes from a loss of 90.669 million BGN in 2024 to a positive result of 417,000 BGN in 2025. „Toplofikatsiya Montana“ increases its profit by 38.2% to 210,000 BGN.
The Petric company mainly serves a large greenhouse complex, while the district heating in Montana operates with a decentralized system of over 40 small gas plants.
„Toplofikatsiya“ has the biggest loss
The most serious deterioration in the result is experienced by „Toplofikatsiya - Pleven“ AD. The company goes from a profit of 8.73 million BGN in 2024 to a loss of over 1 million BGN in 2025. Its financial result decreases by 9.797 million BGN.
The loss of „Toplofikatsiya - Razgrad“ AD increases more than twice – from 523,000 BGN to 1.257 million BGN. “Toplofikatsiya - VT“ AD reduces its negative result by 59.8%, but remains at a loss of 1.646 million BGN. The company plans to introduce a second cogenerator with which to increase the production and sales of electricity.
The district heating companies in Burgas, Varna, Vratsa, Gabrovo and Plovdiv are also at a loss.
The largest negative result is at “Toplofikatsiya Sofia“ EAD – 433 million leva. The loss almost triples on an annual basis, although the company's revenues are nearly 760 million leva. This is almost four times more than the revenues of “Toplofikatsiya Ruse“, which is second in this indicator.
Heat energy consumption decreases
The financial results were reported against the background of lower average consumption during the 2025/2026 heating season. An analysis by “Dalsia“, prepared based on data from the equalization accounts of 127,810 customers in Sofia, Plovdiv, Ruse, Razgrad, Kozloduy and Pleven, reports a decrease of 8.9% to 4.47 MWh per customer. The average weighted seasonal bill decreased by 3.9% to 306 euros.
In Sofia, consumption decreased by 10.4% to 4.45 MWh, and the average seasonal bill decreased to 308.9 euros despite the higher average price of heat.
In Ruse, the average price decreased by 9.4%, but consumption increased by 12.4%, leading to a 1.9% increase in the average seasonal bill. In Pleven, the average bill reached 249.1 euros, and in Razgrad - 368 euros, as both prices and consumption increased.
Sources: money.bg