Romania To Ink Regional Energy Mkt Pact With Hungary, Austria Soon- Econ Min

Romania is close to sealing an agreement with Hungary and Austria to set up a regional energy market and holds talks with Greece and Bulgaria on the issue, Economy Minister Adriean Videanu said Tuesday.

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"We are very close to signing with Hungary and Austria the agreement to set up a regional energy market," Videanu said during a conference on the restructuring of the energy sector.

In July, Videanu said the agreement might be sealed early-September.

Setting up a regional energy market is an older objective of the Romanian authorities.

Also, the government's plan to reorganize Romania's energy sector aims at creating two national power holdings including several assets within the energy sector. The authorities also plan to support private investments in energy production.

"In 2018, the market share of the two national companies would be reasonable one, while the private sector should lead to a real competition in the energy market," Videanu said.

Thus, half of Electrica, two of the hydropower plants operated by Hidroelectrica will make, next to power producers Turceni, Rovinari and Craiova, 1st and 2nd nuclear reactors with Cernavoda power plant and Romania's state-owned brown coal mining company - Societatea Nationala a Lignitului Oltenia, or SNLO, the first company.

The other half of Electrica next to the largest part of Hidroelectrica's assets, including the largest Romanian hydropower generator Portile de Fier, the country's pitcoal mining company CNH, thermal company ELCEN Bucuresti, Deva and Paroseni, as well as hidro-power plants Caransebes, Hateg, Arges, Cluj, Bistrita, Sibiu, Sebes, Buzau and Targu Jiu will make a second company.

According to Videanu, the energy sector might represent a high opportunity for Romania, but also a vulnerability, if there are not made investments to ensure a higher efficiency of the power production.

Videanu hopes the draft to amend the renewable energy law is debated in the Parliament this week, under emergency procedure.

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