E.ON Romania budgets investments worth 95 mln euro this year

E.ON Romania allocates this year an increased budget for investments – some 95 million euro, compared to 83 million euro in 2013 – funds which will be spent on modernizing the electric power and natural gas grid, today announced the company’s General Manager, Frank Hajdinjak, quoted by Mediafax. This amount will be added to other about 1.1 billion euro invested in Romania since 2004 when Electrica Moldova was taken over, Hajdinak added, explaining that they decided to supplement the finances as there has been identified a necessity.

Last year, E.ON Romania has seen a decrease in the volumes of electricity and gas sold which translated into a lower turnover of some 1 billion euro compared to approximately 1.2 billion euro in 2013. While the energy and gas market liberalization is ongoing, Hajdinjak says that the company forecasts better financial results this year, expecting that the gas and electricity volumes sold will maintain a similar level as last year.

E.ON Romania, member of E.ON Group, the world's largest investor-owned energy service provider, is the platform company supporting the operational E.ON companies in Romania in the energy sector. E.ON Romania holds the majority stake in E.ON Energie Romania S.A., E.ON Gaz Distributie S.A. and E.ON Moldova Distributie S.A.