Hidro Tarnita SA, the company in charge with the project, is deferring the deadline for submitting the pre-qualification documents required in the first phase of selecting the investors that will engage in implementing the project regarding the 1000 MW pumped-storage hydropower station at Tarnita-Lapustesti....more »

Exxon Mobil and OMV Petrom have started drilling a new exploration well on a new prospect in the Neptun Block offshore Romania, according to a press release of OMV’s domestic subsidiary....more »

The European Commission has decided not to continue the infringement procedure initiated in 2011 against Romania  for not transposing the provisions included in the Energy Package 3 with respect to both natural gas and electric power sectors....more »

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....more »

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....more »

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....more »

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....more »

Italy’s power group could give up the announced sale of its domestic assets, as the targeted amount to be raised, 1.8 billion euro, it is little likely to be obtained, according to official sources quoted by Agerpres....more »

China General Nuclear Power Corporation this week submitted a binding offer for the project regarding the completion of Units 3 and 4 of the nuclear power plant from Cernavoda. Subsequently, the Government will analyze the offer and will initiat...more »

Electrica’s first General Meeting of Shareholders subsequent to its IPO convened on September 22, 2014 and elected a new management by cumulative vote, as anticipated....more »