The program also targets to change the company’s management structure.
“I am preoccupied about ELCEN’s situation as regards applying the government decision aimed to integrate ELCEN and heating distributor RADET, and about the price paid by ELCEN to buy primary fuel. I am referring at costs incurred by purchases of imported natural gas,” said Nicolescu.
The minister also said ELCEN is among local power companies at which the state must appoint private management, according to the statement.
ELCEN operates five power production units in Bucharest and one in Constanta, southeastern Romania. ELCEN, currently controlled by the Economy Ministry, is to be transferred under the authority of the Bucharest City Hall, following merger with heating distributor RADET.
RADET has debts of 3.26 billion lei (EUR741 million) to ELCEN, of which RON994.5 million in late payment penalties.