Romania sticks to national power companies establishment plan.

By bne IntelliNews June 1, 2011
Romania's government has not abandoned the idea of setting up the large-scale power generation companies Electra and Hidroenergetica, but at this moment the option of smaller national companies seems more realistic as a preliminary step, Mediafax quoted state secretary Laszlo Borbely as saying at a news conference. The alternative scenario does not involve the large, profit making power generators Hidroelectrica and Nuclearelectrica, but rather the financially-troubled coal mines and the coal-firing power generators. We recall that in March and April, the Court was in favour of the objections of the trade unions and the minority shareholders against the split of the state-controlled Hidroelectrica into two separate entities, to be further assigned to each of the national power generators Electra and Hidroenergetica. The courts ruling challenged the timely formation of the two companies and the government drafted in response an alternative strategy under which the coal mines would be merged with power generation units under a strategy previously used to set up the three existing energy holdings.

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