BUCHAREST -(Dow Jones)- The Romanian government approved an overhaul of the country’s energy sector by setting up two national power holdings to include almost all the state-owned assets in the field, news agency Mediafax cited Economy Minister Adriean Videanu as saying Friday.
Videanu said the government decided to change the name of one of the future companies to Hidroenergetica from Energetica as initially planned, for „continuity and credibility” reasons, after the main plant to be included in the holding, namely Hidroelectrica. The other company will be named Electra.
Romania needs two large energy companies, comparable by size and structure with companies in the region, because the current energy system doesn’t provide the conditions for a real market competition, Videanu added.
He said the setup of the two power companies wouldn’t imply increased energy prices.
Electra is to include some of Romania’s largest thermal power plants, the two operational reactors at the country’s sole nuclear power plant in Cernavoda, the brown coal company SNLO, and a few hydropower plants.
Hidroenergetica will comprise most of the hydropower plants, the pitcoal company CNH, and a series of other thermal power plants.
Agency Web site: www.mediafax.ro
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Publié le 29 janvier 2010 Copyright © 2010 Dowjones

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Romanian Government Approves National Power Holdings Setup -Mediafax

BUCHAREST -(Dow Jones)- The Romanian government approved an overhaul of the country’s energy sector by setting up two national power holdings to include almost all the state-owned assets in the field, news agency Mediafax cited Economy Minister Adriean Videanu as saying Friday.
Videanu said the government decided to change the name of one of the future companies to Hidroenergetica from Energetica as initially planned, for „continuity and credibility” reasons, after the main plant to be included in the holding, namely Hidroelectrica. The other company will be named Electra.
Romania needs two large energy companies, comparable by size and structure with companies in the region, because the current energy system doesn’t provide the conditions for a real market competition, Videanu added.
He said the setup of the two power companies wouldn’t imply increased energy prices.
Electra is to include some of Romania’s largest thermal power plants, the two operational reactors at the country’s sole nuclear power plant in Cernavoda, the brown coal company SNLO, and a few hydropower plants.
Hidroenergetica will comprise most of the hydropower plants, the pitcoal company CNH, and a series of other thermal power plants.
Agency Web site: www.mediafax.ro
Click here to go to Dow Jones NewsPlus, a web front page of today’s most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=x%2B5YSalZQHvVUObI4tRsXw%3D%3D. You can use this link on the day this article is published and the following day.
Publié le 29 janvier 2010 Copyright © 2010 Dowjones

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