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Jurnalul.ro Vechiul site Old site English Version Electricity Provider Electrica Refuses To Pay Dues To State Coffers

Electricity Provider Electrica Refuses To Pay Dues To State Coffers

05 Oct 2010   •   00:00

Electricity provider Electrica said it would not sent 400 million lei şroughly 100 million Euroţ to state coffers, as the Government ordered it in its latest budget rewrite. The news was brought up in a letter Electrica sent to the Ministry of the Economy.

A source with the company contacted by Jurnalul national explained Electrica had only 140 million Euro in its bank accounts, with three of the companies in the holding being 200 million Euro in the red.
"The three subsidiaries are virtually bankrupt, and yet employ 8,500 people who do nothing for lack of contracts," the source explained.

Electrica informed the ministry that it needed 500 million Euro for sprucing up the grids and investing in two wind-mills, of 50 MW each, to be built in Chirnogeni, of Constanta County, and in Frumusita, of Galaţi County.

In 2008, Electrica cashed in 432.8 million Euro from Italy's Enel, for selling it its southern subsidiary, Electrica Muntenia Sud.
Of these, some 280 million Euro were sent by Electrica to state coffers, on account of the 2008 and 2009 dividends payable to the state for its stake in the company

A decision passed by the Government in August stated that electricity provider Electrica and gas provider Romgaz to give each 400 million Euro to state coffers, while the National Lottery to give 74 million lei.
Translated by AAP

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