“State companies’ arrears to power suppliers remain a major problem. CFR is one of the largest debtors and owes about RON525 million to energy companies. Some RON520 million should be recovered from insolvent clients,” ACUE said in a statement Wednesday.
ACUE explained that energy suppliers are obliged to deliver electricity and natural gas to clients that entered insolvency, even if they don’t pay their bills, adding that some are likely to take advantage of this situation.
The association welcomes propositions to amend the insolvency law so companies that default on their debts will be obliged to pay off their debts.
On Tuesday, ACUE representatives met with the officials of the International Monetary Fund, the European Commission and the World Bank.
The association was set up in 2012 and has 25 members, including E.ON Romania, ENEL Romania, CEZ Romania, GDF Suez Energy Romania, Distrigaz Sud Retele, Electrica, Electrica Furnizare, CONGAZ, WIEE, WIROM GAS, which employ over 20,000 people. Their combined annual turnover is estimated at over EUR4 billion. (EUR1=RON4.4209)