Electrica Furnizare shareholders will discuss the approval of a total ceiling of short-term financing of 1.5 billion lei, to be contracted in 2022, for the current activity of the company. The financing will be guaranteed by Electrica SA, a shareholder of Electrica Furnizare, up to a limit of 1.65 billion lei. The measure is on the agenda of GMS Electrica SA, convened on March 21.

Electrica Furnizare SA, a subsidiary of the Electrica Group, was established in 2011, through the merger of the former subsidiaries Electrica Furnizare Muntenia Nord, Electrica Furnizare Transilvania Nord and Electrica Furnizare Transilvania Sud. Electrica has a capitalization of 3.4 billion lei and is 48.8% owned by the Romanian state, through the Ministry of Energy. EL shares registered a decrease of 22% in the last year, amid transactions of 215 million lei, according to BVB data quoted by zf.ro.

The Electrica Group has an investment program of 300 million euros, mainly through its distribution operator Distributie Energie Electrică Romania SA (DEER) and it includes projects for the modernization of the electricity distribution network, the reduction of energy losses and the improvement of the general reliability of the network in the counties of Prahova, Dâmboviţa, Buzău, Brăila, Galaţi, Vrancea, Braşov, Mureş, Covasna, Harghita, Sibiu, Alba, Cluj, Sălaj, Maramureş, Bistriţa-Năsăud , Bihor and Satu Mare.