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Romania’s Transelectrica, 41 European Pwr Transport Cos Set Up ENTSO-E Org

More than 40 European power transmission operators, including Romania’s power grid operator Transelectrica (TEL.RO), set up an organization aiming to integrate the energy market within the European Union, named the European Network of Transmission System Operators for Electricity, or ENTSO-E.
Romania’s Transelectrica, 41 European Pwr Transport Cos Set Up ENTSO-E Org
06 ian. 2009, 16:02, English

„ENTSO-E’s purpose is to integrate the electricity market within the European Union, to create market rules for power supply, based on technical network codes and according to the market,” Transelectrica stated in a press release.

The power grid’s general manager, Stelian Alexandru Gal, has been appointed member of the Managing Board of ENTSO-E.

ENTSO-E, which groups 42 companies, will become operational as of April and will cooperate with the European Commission, with the power regulators and the other interested organizations. The functions of the existing associations will be transferred to the new ENTSO-E during the first half of 2009.

Transelectrica is majority owned by Romania’s Finance Ministry, with a 73.69% stake, followed by investment fund Fondul Proprietatea, with a 13.5% stake.

The company is listed on the Bucharest Stock Exchange. At GMT1500, Transelectrica’s shares were traded at 123.5 lei (EUR1=RON4.0629), up 2.07% on the day.