Thursday, August 17, 2017

Yekaterinburg residents owe $85 million to area utility companies

The Yekaterinburg city administration announced recently that as of Jan. 1, city residents owe a combined $85 million to utility companies and housing suppliers.

In an effort to mitigate the large debt to private sector suppliers, the city has launched Octopus, a program which offsets financial burdens for utility companies, Ekburg.ru reports.

Analysts have noted the issue of nonpayment from residents to property management companies has in turn resulted in nonpayment from residential services providers to utility companies.

Rental property owners constitute the largest demographic of debtors to area utility companies, according to Ekburg.ru.