Franks suggests authorities to make public the contracts with the “smart guys”

All contracts concluded in the energy sector must be registered with OPCOM – the energy exchange – so there is no “preferential treatment,” which would also calm the prices paid by Romanian consumers, with positive effects for the economy, said Jeffrey Franks, the head of the IMF mission to Romania, quoted by ‘Romania Libera’. “I am no expert in this field, but I know that important energy companies are selling part of the energy on the free market and another part on the regulated market, and also sign bilateral contracts with certain customers operating in many sectors of the economy. There is nothing wrong about this, in principle. The only problem is whether these contracts are indeed transparent and open to the public,” Franks said.

There are some challenges about bilateral contracts under the price of the market and perhaps some customers received a preferential treatment, he added. The IMF official also referred to the procedure of selecting the managers of state companies. HR companies that will recruit managers for state companies will have to enjoy international recognition and the announcement will be run in Romania and abroad. “There are procedures to be followed by the Romanian government, in view of hiring managers. The government will have to list and make public these criteria, then follow certain procedures in order to hire independent foreign managers,” Franks explained, adding that he has no authority to supervise the actions of the government and he is only trying to help.

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