Bogdan Tudorache

The ELCEN Lenders Committee will meet to discuss the possible cessation of hot water in the Capital, following the refusal of the Bucharest City Hall (PMB) to pay the subsidy to RADET, announced the ELCEN manager, Sierra Quadrant. Current receivables not received by ELCEN reached 217.5 million lei, out of which 110.3 million lei exceeded a 90-day maturity.

“Unfortunately, despite the numerous calls for responsibility sent by our company, both in meetings and official correspondence with PMB, as well as in public communication, PMB officials continued to deal with the dramatic situation of the district heating system indifferently,” says the company.

“Stopping hot water in the capital is an extreme measure, which we have tried to avoid permanently. We delivered the heat agent to RADET, although ELCEN was not paid, hoping finally that the mayor Gabriela Firea will understand at a moment that her number one responsibility is the quality of life of the citizens … After they destroyed and bankrupted RADET, ELCEN became their new one target. It is impossible for a company already insolvent to provide free services, accumulating debts in turn to suppliers and depriving creditors of the chance of recovering debts. Therefore, the probability that ELCEN will stop the delivery of hot water in a maximum of one month is quite high,” said Ovidiu Neacșu, founding partner of Sierra Quadrant.