Hunedoara Energy Complex gets the first tranche of state aid, after its GM resigned

0

Get real time updates directly on you device, subscribe now.

The Romanian authorities granted Hunedoara Energy Complex (CEH) the first tranche of the individual rescue aid worth RON 98.4 million, following an agreement signed by the Ministry of Energy along with the Ministry of Public Finance. The money will be used for current expenses and to purchase the deficit of greenhouse gas emission allowance, Ministry of Energy announced in a press release.

This comes soon after Constantin Jujan, General Manager of CEH, decided to resign, accusing the authorities that the state aid from the government is coming late, given that there is a timetable agreed with the International Monetary Fund (IMF) and the European Commission on energy complex activities.

“Today we have taken another important step on the road to save Hunedoara Energy Complex. It is an approach that we have taken it and that we do for a strategic actor of the National Power System. We want to rescue the complex, which has an undeniable role in energy security. Also, we do not lose sight of economic and social impact had by the decisions on CEH’s fate over Jiu Valley,” Bogdan Badea, Secretary of State within the Ministry of Energy.

Ministry of Energy states that to be eligible for the state aid of individual rescue, CEH is expected to submit a restructuring plan which must be approved by the European Commission as well. But the received amounts can not be used in the coal sector, the company assuming the obligation to legally separate the mining activity from the rest of activities.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More