October 11 (SeeNews) - Bulgarian bottled gas distributor Toplivo Gas expanded its business activities to include electricity trading, parent company Synergon Holding [BUL:SNRG] said on Tuesday.
The new activity was entered in the Commercial Register, Synergon said in a stock exchange filing.
The scope of business activity was expanded after the Energy and Water Regulatory Commission (EWRC) decided in September to issue an electricity trading licence to Toplivo Gas for a period of ten years.
The EWRC said at the time that it approved Toplivo Gas’s five-year business plan related to the new trading activity. According to the plan, the company expects its profit to rise to 682,000 levs ($338,249/348,701 euro) in 2026 from 190,000 levs in 2022. In parallel, revenue is expected to grow to 77.3 million levs from 17.4 million levs.
(1 euro = 1.95583 levs)