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Romania close to signing energy market agreement with Hungary and Austria

Romania is close to signing an agreement with Hungary and Austria in view of setting up a regional energy market. At the same time, Romanian officials are engaged in similar talks with Greece and Bulgaria, Economy Minister Adriean Videanu stated yesterday in a press conference on the issue of the energy sector's restructuring, Mediafax informs. Back in July he stated that the agreement could be signed in early September.

Moreover, the Government is considering restructuring the electricity production sector by creating two national companies that would include several assets belonging to companies relevant for that sector. As part of that restructuring, the authorities are also considering stimulating private companies in order for them to get involved in energy production.

‘We have considered creating the premises of protecting all market players. An important pillar was the emergence of the private sector in energy production, alongside the two national companies. In 2018 the two national companies' market share will be reasonable and the emergence of the private sector would create real competition in the market,' Videanu explained.

Videanu added that the energy sector can represent a significant opportunity but it can also be a significant vulnerability if no investments are made. On the other hand, a delegation from energy distribution company Transelectrica (TEL) will leave for Moscow on Wednesday in order to talk about collaboration opportunities with the Russian partners.

Gov't considers reducing participation in nuclear reactors 3 and 4

The authorities are taking into consideration the reduction of the state's participation in the investment into nuclear reactors 3 and 4, with the issue set to be discussed during the drafting of the 2010 budget, the Economy Minister added. The investment in the two nuclear reactors, estimated at EUR 4 bln, is conducted by EnergoNuclear, a mixed company.

Videanu pointed out that the Proprietatea Fund (FP) will keep the shares that it holds within the companies that will be included in the two national energy production companies. The Government is considering restructuring the electricity production sector by creating two national companies that would include several assets of all relevant companies. As part of that restructuring the authorities also consider stimulating the private companies in order for them to get involved in energy production.

Lificiu: Energy sector is outdated and failed privatizations have been registered

The energy sector is outdated and inefficient, unsuccessful privatizations and ‘an abuse of non-transparent contracts' have been registered and Romania has currently moved to ‘re-launching the reform' in this domain, Petru Lificiu, the president of the National Authority for Energy Regulation (ANRE), stated yesterday. He pointed out that Romania ‘has moved to re-launching the energy reform' and underlined that when he talked about the unsuccessful privatization contracts he referred to the investors' failed attempts to take over energy production companies.

‘The privatization should have started with the production, not the distribution of energy,' Lificiu pointed out. The head of the ANRE added that the desire is to maintain the price of natural gas and electric energy at its current level through the winter.

Videanu, who attended the conference, added that the stocks of natural gas, coal and crude oil are enough for the winter period. He pointed out that if a new gas crisis will take place as it happened in January, back when Russia stopped its natural gas exports towards several European states including Romania as a consequence of its dispute with Ukraine, the authorities will have the maturity to manage it.

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Tags: energy sector national lsquo production companies restructuring market agreement videanu romania

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