ELCEN to sue Bucharest City Hall for 790 million euros – Romania, 11 June 2019

The creditors of electricity and heat producer ELCEN are preparing to hire a legal consultant in order to file a lawsuit against the Bucharest City Hall claiming 790 million euros in unpaid bills by the City Hall. The situation could have been avoided through the merger of ELCEN with heating dist Full article available for […]

Bucharest City Hall to borrow 100 million euros for thermal subsidies – Romania, 31 May 2019

Bucharest City Hall is planning sign an agreement for 100 million euros loan, repayable in 20 years, in order to pay outstanding subsidies to thermal energy producer RADET. According to Romanian media, the loan will have equal quarterly repayments with variable interest rate. The loan is required Full article available for subscribers of Energy NEWS […]

RADET went into bankruptcy – Romania, 18 April 2019

On 17 April, the Bucharest Court decided on the start of bankruptcy proceedings for thermal energy provider RADET. RADET’s legal administrator Gheorghe Piperea said that unless the motion for suspension of bankruptcy proceedings before the Court of Appeals succeeds, within ten days all the activi Full article available for subscribers of Energy NEWS service (PDF […]