Municipality says debts to Termocom will be cleared when debt to Apa-Canal Chisinau is settled

The Chisinau administration will examine and suggest to the heat supplier “Termocom” JSC a scheme for paying the heat debts of 151 mln lei on condition that the company settles immediately its debt to the Thermoelectric Power Plants (CETs) and these, in turn, clear their debts to “Apa-Canal Chisinau” (ACC). Constantin Becciev, director of Apa-Canal Chisinau, said that the accounts receivable of the water-supplier amount to about 270 mln lei, of which 90 mln lei are the debts of the thermo-energy sector of the municipality. Under the financing scheme which the local authorities are to examine at a special meeting, the municipality would transfer directly to ACC 75 mln lei to clear the current debts, which represent half of the debts, by a reciprocal discount procedure. The local authorities want in such a way to make sure that the money paid to Termocom reaches the water supplier of the heat supplier. Termocom, which sued the Chisinau City Hall over debts, argued its action by the impossibility of fulfilling the assumed financial obligations. Mayor of Chisinau Dorin Chirtoaca said earlier that the problem of clearing the 151 mln lei debts to Termocom should be solved peacefully, especially because the suppliers of Termocom, such as the Thermoelectric Power Plants, have large debts to Apa-Canal. Becciev said that ACC is now in a very difficult financial situation, also because it has firm creditors like banks and the company Union Fenosa, which do not tolerate deviations from the payment terms. If Apa-Canal does not pay 9 mln lei for the consumed electric power, the pumping stations will be disconnected from the electricity networks in two or three days, Becciev said, quoted by Info-Prim Neo.