Edinburgh set to get £140,00 refund over Hogmanay wash-out
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However the city council has still not managed to recover any of the £812,456 it put into last year's four-day Hogmanay festival.
An official report for the city council has also revealed that is still to be paid more than £250,000 in fees from last year's Christmas and new year festivals.
However councillors have been told that "in excess of £140,000" is expected to be recouped once the insurance claim over the cancellations is settled, while the council said there is a "clear expectation" that it will all the money it is due from various charges, including traffic orders and the rental of key sites including Princes Street Gardens.
Edinburgh's Hogmanay fireworks were called off last year. (Image: Jane Barlow/PA Wire)
The new figures have emerged after it was announced that an overall audience of 2.8 million had been attracted to the city centre over the festive season, which has been valued at £198 million to the economy.
Unique Events and Assembly were last May awarded a joint contract to produce the Christmas and new year events for up to five years.
While the Christmas festival is expected to be run on a commercial basis, the £812,456 council grant is expected to help pay for the Hogmanay festival, which costs around £3.56 million to stage.
Key costs in the budget include £314,000 for a torchlight procession on December 29, £137,000 for a Night Afore Disco Party in Princes Street Gardens on December 30, £890,000 for the Concert in Gardens on Hogmanay and £1.49m for the main street party on Princes Street on Hogmanay.
However the fire parade was called off around 5pm, shortly before it was due to set off, due to the wind speeds being recorded in the city centre.
The plug was pulled on the other outdoor events and the planned midnight fireworks display just after 3pm on December 30 due to the weather conditions hampering the set up of the main arena and stages across the city centre.
All planned indoor events were able to go ahead as planned at venues including the Assembly Rooms, the Assembly Hall, St Giles' Cathedral and the National Museum of Scotland.
Councillors have been told that the event organisers had been in 'constant communication with their insurers between December 29 and 31.
The report for the council's culture committee said: 'It is anticipated that the council will be able to recover some of the grant funding released to support Edinburgh's Hogmanay.
'Due to the events that did take place and the ongoing insurance claim for the cancelled outdoor 2024/25 events, this figure is not currently available but is expected to be in excess of £140,000.
'The council receives fixed fee rental income from Unique-Assembly for the delivery of Edinburgh's Christmas dependent upon land made available to the successful contract holder. In addition, the council receives significant income from charges.
Council charges, including fixed fee income, rentals, hires, licensing, planning permission, building warrants and traffic management orders for the 2024-25 winter festivals 2024/25 represented an income to the council of £668,595 of which £418,700 has currently been paid.
'The council is in ongoing discussions with the contractor in relation to any outstanding payments due with a clear expectation that all relevant contractual sums will be settled.
'The council is aware of the terms of the contract and the potential remedies available to it and will continue to take appropriate steps to recover sums in line with the contract.'
A spokesperson for Unique Events and Assembly said: 'There will be a financial return to CEC following completion of the insurance process.
'In light of last year's extreme weather conditions, we will continue to adapt and evolve the four-day Hogmanay events programme to maintain the city's reputation as a premier new year celebration.'
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