about us | newsletter | contact | archive | members area

»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Hunedoara Energy Complex to reduce its losses by 80 per cent this year

The Romanian Government adopted the 2017 budget for the Hunedoara Energy Complex (CEH), estimating that the losses of the state-owned company will be reduced by 80 per cent.

2017-09-01 15:27:17

The company′s total revenues for this year are estimated at 664.7 million RON (147.5 million Euro), and the expenditures to 833.9 million RON (185 million Euro). These also include the state aid totalling 198.8 million RON (44 million Euro), which was granted to facilitate the closure of the non-competitive Lonea and Lupeni mines for 2017.

"The decrease in CEH's losses this year is mainly due to the change in the way of selling the energy from the regulated market on the free market," said Toma Petcu, the Minister of Energy. "In addition, reorganization and restructuring measures have been taken at the company level and their effects will also be felt in the years to come."

In April, the European Commission approved a rescue aid for Hunedoara Energy Complex, while in return Romania has committed to submit a restructuring plan for the energy producer. The amounts received may not be used in the coal sector, the company assuming the obligation to separate legal mining activity from remaining activities.

CEH is the largest trader in the Jiu Valley and Hunedoara County and is also the only company that supplies heat in Deva and the Jiu Valley cities.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1922 Views
Daily Info
New Dacia Duster shown for the first time in Romania at Renault Day

The new Duster model has been shown for the first time in Romania on Sunday, on the occasion of the Renault Day, an event organized on Dacia's industrial platform in Mioveni t...

Corneliu Bodea was reappointed as president of Romanian Energy Center

Corneliu Bodea was reappointed as president of Romanian Energy Center (CRE) with 244 votes, being the only candidate. His new mandate will last until September 2020.

Zacaria develops the first private industrial park in Craiova

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, the Romanian real...

FIC: High growth without infrastructure is not possible in the long run

The Foreign Investors Council (FIC) believes infrastructure is key for Romania's future development and it is also one of the three pillars Romania must focus on if it is to b...

Superbet bonds start trading on Bucharest Stock Exchange

Corporate bonds of Superbet Betting & Gaming S.A., one of the most important gambling operators in Romania, have started trading on the Alternative Trading System managed by B...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

Fondul Proprietatea urges President Iohannis not to promulgate the Ports Law

Fondul Proprietatea has sent a letter to President Klaus Iohannis outlining several reasons that constitute, in the Fund's view, a strong basis for the non-promulgation of ...

Romanian ruling coalition plans tax overhaul ahead of key parliament vote

Romania's ruling Social Democrats unveiled plans on Thursday to overhaul taxation from 2018, ditching a flat 16 per cent tax on income and profit that has attracted investm...

Romania's sovereign fund to be launched in 2018

Romania's first sovereign fund for development and investments (FSDI) will be available starting January 1, 2018 and it will finance the developments of infrastructure alon...