Bogdan Tudorache

Utility companies would need a cash flow of about 600 million euro a month – or 1.8 billion euro for three months – to cover a possible deferral of payment of electricity and gas bills, State Secretary for Energy within the Ministry of Economy (MEEMA), Niculae Havrileț, told energynomics.ro ,

“This is the estimated cash flow required for the market to operate under normal conditions, according to estimates of ACUE members,” Havrileț said.

The government prepares the norms for the application of the law which provides for the granting of fiscal facilities and the postponement of the payment of the utilities, within a period of 10 days from its adoption. The law was sent for adoption to the President of Romania, but there is an appeal against it from ruling party PNL to the Constitutional Court.

According to the law, the affected companies would receive treasury credits and factoring lines for a period of 18 months, and the deferred payments would be later assimilated to the invoices for a period of one year.