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September 20, 2021

Octavian Lohan interim director general at Transelectrica

The prerogatives of director-general of Transelectrica will be taken over by the deputy director-general Octavian Lohan, HotNews.ro reports. Lohan was entrusted with the task of acting as interim director-general until “the office is filed under the provisions of OUG 109/2011 concerning corporative governance”. The decision was made after ex-director-general Horia Hahaianu resigned, as an act of honour, following a request made by the prime-minister Mihai Razvan Ungureanu. According to a release by the company, the Economy Ministry remitted an order giving the state representatives on the General Shareholders’ Assembly the mandate to also divest Hahaianu of his office as member on the Board of Administration. Hahaianu is not to leave the company, but will instead be transferred to a position in keeping with his experience and professional training, the release further reads.

Moving on to another topic, Transelectrica intends to contract a RON 150 M-credit line which would provide it with “a buffer sum”, to cover the cost of transactions conducted on the balancing market, in the event of delays between the purchasing and the refunding of contracts signed by companies on this market.

“We need to be able to negotiate matters arising from delays in payment collected and our own payment dues,” Marian Mache Gheorghita, director within Transelectrica’s financial department, stated on Wednesday. He added that Transelectrica intended to contract another credit line, but did not provide any details concerning the sum or the destination thereof.

For Q4 of 2011 Transelectrica registered RON 63 M losses.

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