Govnet

CGN has been designated the selected investor for developing Cernavoda Units 3 and 4 project

Nuclearelectrica has selected China General Nuclear Power Corporation for the continuation of the Cernavoda nuclear power plant Units 3 and 4 projects, based on the biding offer submitted in late-September. The Chinese company was to sole investor engaging in the selection process. According to the procedure timetable, the joint letter of intention to complete the project was signed, too.

Victor Cionga, appointed Chairman of Electrica’s Board of Directors

The Board of Directors of Electrica today held its first meeting, appointing Victor Cionga as Chairman of the Board with a mandate valid until the end of January 2016. Cionga has an extensive experience in the private sector, namely in the capital markets field where engaged in listings, mergers and acquisitions. In 1998, he joined Raiffeisen Financial Advisors Romania as General Manager, later serving as Deputy General Manager of Raiffeisen Capital&Investment. He occupied, temporarily, the General Manager position within the Bucharest Stock Exchange.

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Energy

EU Commission approves the support scheme for energy-intensive users

The state aid scheme aimed at supporting the large energy consumers by cutting down green certificates, reducing the contributions to the financing of renewable energy, has been approved by the European Commission which has found that it complies with EU state aid rules, and in particular with the Commission's new Energy and Environmental Aid Guidelines. According to a press release of the Commission, the partial compensation for the cost of financing renewable energy support is necessary to ensure the competitiveness of energy-intensive industries without unduly distorting competition in the Single Market.

Energy Efficiency, a fundamental priority for Romania

With the enaction of the Law No. 121/2014 on energy efficiency, Romania needs to establish a new plan of action in this sector for implementing measures aimed at improving energy efficiency which becomes a strategic goal of the national energy policy. The challenges and opportunities generated by following the directions set by the 2012/27/EU Directive have been debated during the Energy Efficiency Forum 2014 organized by the Romanian Association for Promoting Energy Efficiency (ARPEE) and GOVNET Conferences, attended by more than 30 speakers and about 180 decision-making delegates.

European Commission has suspended infringement against Romania for not implementing the Energy Package 3

CGN has been designated the selected investor for developing Cernavoda Units 3 and 4 project

Victor Cionga, appointed Chairman of Electrica’s Board of Directors

EU Commission approves the support scheme for energy-intensive users

Energy Efficiency, a fundamental priority for Romania

Enel could abandon sale of Romanian assets

China Nuclear Power Corporation submitted a binding offer for the Cernavoda project

Electrica’s shareholders elected the Board of Directors