“In the energy sector, I think the biggest stake is state aid. With assistance from international institution, we’re trying to solve the problems of CE Hunedoara and problems that will likely occur for CE Oltenia,” Chiritoiu said at the Mediafax Talks about Competition conference.
He added the size of the restructuring for the two energy holdings will likely become known in the upcoming months and will certainly affect the entire electricity market.
Chiritoiu added an antitrust report on the Romanian energy market will be completed in a few weeks.
Energy Minister Andrei Gerea said in February the state was working to save energy holdings Oltenia and Hunedoara from bankruptcy. He added CE Hunedoara is noncompetitive and cannot handle the current market economy requirements.
CE Oltenia produces 95% of Romania’s coal and can cover up to 30% of the country’s electricity consumption. The company has nearly 19,000 employees and there are plans to lay off approximately 3,000 people as of March.
CE Hunedoara has nearly 6,500 employees working in four coal mines and two coal-fired power plants that covered around 7% of the country’s electricity consumption in 2013.