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Electrica’s privatization will bring the state more than 300 million euro, while investment needs of Romania are of 30 billion euro in the long-term , said Tuesday the head of the Privatization of the Department of Energy, Gabriel Dumitraşcu, at the conference Energy Investors Summit, where energynomics.ro was media partner.
Electrica’s privatization documents have already been delivered to the London Stock Exchange while the prospect is expected to get last approvals from the Financial Supervisory Authority (FSA), says Dumitraşcu. The dual listing would actually begin on June 16.
“The prospect is in the final stage, there is already a first reading by the ASF,” he says.
“Romania needs investments worth 30 billion euro in the energy field. Once we adopt the new energy strategy, hopefully this autumn, these calculations will be updated. We talk about strategy projects , deadlines, the destination of the money,” Dumitraşcu says.
The funds obtained from the sale of 51% of Electrica will be used for investment in energy infrastructure.
“It’s easy to see where should we direct the funds resulted from the listing process: firstly, investment in networks, secondly, for investment in networks and the thirdly, also for investments in networks,” Dumitraşcu said.
Electrica is a leader in the distribution and supply of electricity segment in Romania. According to ANRE, in 2013, the group has distributed 16.1 TWh of electricity, representing 39% of the electricity distributed in Romania, to about 3.6 million users.
