Green light for the setup of national energy companies

The Government recently green lighted the forming of two national companies in the energy sector, Mediafax quotes ministry sources as saying. The news were confirmed at the end of a Cabinet meeting by the Minister of Economy Adriean Videanu who said that the Government decided Friday to rename one of the future companies from ‘Energetica’ into ‘Hidroenergetica,’ due to “continuity and credibility” reasons.

“We needed two large companies, similar to the firms across the region in terms of size and structure of energy output, which is rigid, because we have producers based on coal, nuclear and hydro energy, but we do not have the conditions of a real competition, as one cannot put hydro producers compete with those based on coal, in terms of transparently selling their output in the energy market. This is why many <> appeared in the past, along with obsolete situations for the market,” Videanu explained.

‘Electra’ company will be led by the CEO of Craiova Energy Complex, Constantin Balasoiu, while the similar position of the second national company in the energy sector, ‘Hidroenergetica’ will be held by the acting CEO of Hidroelectrica, Mihai David.

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