Tag: debt

Debt of RiTE Gacko exceeds company’s assets – Bosnia and Herzegovina, 23 October 2017

According to the latest auditing report, the short-term liabilities of coalmine and thermal power plant (RiTE) Gacko, operated by Bosnian power utility ERS, exceeded the company’s floating assets by some 16.4 million euros at the end of 2016. The auditing report from Deloitte said that the company’s ability to continue its operation rests only on […]

EC Hunedoara to reduce losses by 80 % in 2017 – Romania, 1 September 2017

The Romanian Government has adopted the 2017 budget for Energy Complex (EC) Hunedoara, estimating that the losses of the state-owned company will be reduced by 80 %. The company’s total revenues for this year are estimated at some 147.5 million euros while the expenditures are estimated to 185 million euros. These also include the state […]

Bucharest City Hall wants to buy ELCEN – Romania, 9 June 2017

Spokesperson for the Romanian Government Alina Petrescu announced that it was agreed at the meeting between Minister of Energy Toma Petcu and Mayor of Bucharest Gabriela Firea that the shares of the largest Romanian heat producer ELCEN will be put up for sale and that Bucharest City Hall has expressed strong interest in acquiring those […]