New gas interconnection project with Ukraine - Romania, 20 March 2018  |  OMV Petrom CEO change comes into force on 1 May - Romania, 20 March 2018  |  A2A’s stake in EPCG to be paid in two years - Montenegro, 20 March 2018  |  Hungary has gas reserves for few days only - Hungary, 20 March 2018  |  PannErgy recorded higher profit in 2017 - Hungary, 20 March 2018  |  Upgrade of Revythoussa LNG terminal will shut it down for 3 months - Greece, 20 March 2018  |  Israeli Clal acquired 10 % stake in Energean - Greece, March 20 2018  |  EVN insists on higher electricity prices as of 1 July - Bulgaria, 20 March 2018  |  CEZ expects 390 million euros from the sale of its Bulgarian assets - Bulgaria, 20 March 2018  |  Bulgartransgaz agreed to buy South Stream Bulgaria assets - Bulgaria, 20 March 2018  |  Accumulated loss of Brod refinery surpassed 300 million euros - Bosnia and Herzegovina, 20 March 2018  |  HET recorded loss in 2017 - Bosnia and Herzegovina, 20 March 2018  |  Net electricity production amounted to 14,472 GWh in 2017 - Bosnia and Herzegovina, 20 March 2018  |  Kosovo to solve energy dispute with Serbia - Region, 20 March 2018  |  TPP Sostanj unit 6 back online - Slovenia, 19 March 2018  |  NPP Krsko production in February - Slovenia, 19 March 2018  |  Gastrans published a call for expression of interest in gas pipeline capacity reservation - Serbia, 19 March 2018  |  EDF interested in hydro projects in Serbia - Serbia, 19 March 2018  |  Romgaz estimates gross profit of 343 million euros for 2018 - Romania, 19 March 2018  |  38.8 million euros collected from trading greenhouse gas emissions certificates in February - Romania, 19 March 2018

Hidroelectrica’s IPO should not be rushed – Romania, 19 February 2018

Romanian Minister of Energy Anton Anton said that he believes that electricity producer Hidroelectrica is still not ready for the initial public offering (IPO) of its shares on the stock exchange, because it is still weakened by the insolvency process,
Minister Anton explained that Hidroelectrica’s listing should not be rushed and it is better to wait for it to consolidate further. In September last year, Romanian Government has approved a sale of 10 % stake in electricity producer Hidroelectrica on the Bucharest Stock Exchange in the company’s IPO instead of initially proposed 15 %. Former Minister of Energy Toma Petcu stressed that the entire amount earned through the listing will remain in the company, as the Government wants it to be used for the company’s development. He said that Hidroelectrica was restructured though the lack of investments in maintenance and modernization and, although the company operates facilities with installed capacity of 6,400 MW, it cannot utilize more than 3,000 to 5,000 MW. Hidroelectrica was in insolvency for four years between 2012 and 2016.

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