The government failed to reach and agreement with the International Monetary Fund and European Commission back in February on the massive restructuring of energy holdings CE Oltenia and CE Hunedoara. The minister of energy at the time said the state was trying to save the two companies from bankruptcy.
CE Oltenia produces 95% of Romania’s coal and can provide up to 30% of the country’s electricity consumption. The company has nearly 19,000 employees.
CE Oltenia was founded in 2012 through the merger of thermal power plants Craiova, Rovinari and Turceni and the national coal mining company SNLO.