Romania’s Upcoming Pwr Giants Should Be “Rethought” - Senate Speaker

"We need to rethink the two companies, before considering short-term earnings, but also to remember that millions of Romanians are below the poverty limit," Geoana told an energy conference.

The local government plans to cluster the bulk of state-owned power production units into two state-owned giants.

On the other hand, Geoana said he disagrees with the idea of selling the strategic state-owned energy companies, such as gas company Romgaz or power grid operator Transelectrica (TEL.RO).

"I am against the privatization of Romgaz and Transelectrica, if we want to play a major role in the region. Sure, we could float some of the shares on the bourse, but look at other countries and see how they protect their interests," Geoana said.

Romania plans to sell on the bourse minority stakes in several energy companies, including Transelectrica, gas pipelines operator Transgaz (TGN.RO), Romgaz and hydropower producer Hidroelectrica.

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