“The partial risk coverage guarantee deposited in a special account at the Finance Ministry … namely 216.6 million lei (EUR51.1 million) plus due interests will change destination and will go to the state budget,” the document, obtained by MEDIAFAX, said.
The guarantee was created in 2005, when Enel bought Electrica Banat and Electrica Dobrogea from the state for around EUR127 million. The funds were supposed to compensate potential losses at the two energy companies if the Romanian authorities were to modify or cancel existing regulations regarding energy distribution.
The guarantee was set for a period of five years after Enel purchased the two companies.