Romania's major electricity suppliers warn about including Electrica in the two power companies

Electrica would be divided into two distinct branches and each would be included in one of the two companies. They would keep separate accounting records and would buy energy only through OPCOM.

The fears concerning this action were expressed by E.ON, Enel, CEZ and Gas de France, whose officials met today with the economy minister. A new meeting will be held on July 15.

The first company will comprise the energy complexes in southern Oltenia (Turceni, Rovinari and Craiova), the two units of the plant in Cernavoda (belonging to Nuclearelectrica), the National Company of Lignite Oltenia (SNLO), part of Electrica, and two units of Hidroelectrica, SH Valcea and SH Slatina. 

The second company will include: ELCEN, CTE Deva and Paroseni (belonging to Termoelectrica), Portile de Fier, the rest of Hidroelectrica, CNH, Romgaz and the rest of Electrica. 

CNH and Termoelectrica are the single companies with debts in the new structure. 

“The restructuring of the energy sector aims to increase Romania's energy independence on medium term, to hike the internal power production and to slash the dependence on a single import source, as well as to promote a common policy for power security at European Union level,” said Videanu. 

The two companies resulting from the restructuring will be listed on the stock market, with a percentage to be established later on. Fondul Proprietatea will become a shareholder as well. 

The Economy Ministry will be the majority shareholder of the two companies and will play a part in appointing the management. 

Videanu previously announced they would be functional by the end of the year. One company would chew on 48 percent of the market and the other on 44 percent.