IMF talks: thermal plants and mines will be grouped in two energy companies

IMF talks with the Economy ministry presented a new reorganization formula for the energy sector. Therefore, instead of two energy giants, Electra and Hidroenergetica two smaller companies will be created that will group units in thermal plant industry with the mining industry. The first company will group the National Company of Lignite Oltenia and current complexes from Craiova, Turceni and Rovinari. The second company will group units in the National Coal Company with Paroseni thermal plant and the Deva thermal plant. It is possible to sell minority shares so that the state will still have a majority, sources in the Economy ministry claim.

This is the solution presented by the IMF delegation after the state reached the conclusion that the two energy giants cannot be created. Moreover, the new option presumes massive restructures considering that non viable units will be conserved then shut down by 2018. IMF representative Jeffrey Franks said that the Romanian state will sell significant packs of shares in various energy companies like Nuclearelectrica, Hidroelectrica, Romgaz and Transgaz.