Romania Doesn’t Give Up Plan To Create Energy Champions

Romanian government didn’t give up its plan to merge the main power companies into two national champions, but a system overhaul to create several smaller energy centers has better chances of success at the moment, an official of the Economy Ministry said Tuesday.

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"We won't give up, not as long as there is the slimmest chance to set up Electrica and Hidroenergetica (the two energy champions - e.n.). Right now, however, plan B seems to have the most chances," Karoly Borbely, state secretary at the ministry, told the MEDIAFAX Talks About Energy conference.

Early 2010, the Romanian authorities approved an overhaul of the country's energy sector by setting up the two national power holdings to include almost all state-owned assets in the field.

However, the strategy failed to materialize so far, mostly due to a series of litigations launched by several companies involved in the process.

Earlier this year, the government said it was considering an alternative strategy to reorganize the energy sector, which includes setting up several smaller centers instead of the two champions.

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