Energy Ministry will send a notification to the European Commission next week through which the rescue aid for Hunedoara Energy Complex (CEH) will be converted into restructuring aid, a press release informs.
Thereby, this kind of aid will be used to debt conversion and financing measures of the CEH’s restructuring plan.
Also, according to the restructuring plan, there will be progressive cutting costs, measure correlated with the presentation of guarantees in terms of activity’s viability and profitability for a period of 3 years.
The overarching goal of this restructuring plan aims a structural reorganization and, thus, an increasing economic efficiency in all sectors of CEH.
The restructuring plan proposed by ISPE – Institute for Studies and Power Engineering – consultant was presented Friday by the Romanian Competition Council to European Commission representatives – DG Competition, during a working meeting held in Brussels.
Following discussions, the two sides also agreed that the measures proposed through the restructuring plan must be financed from CEH own resources equally to the granted amount of restructuring aid, given the European directives and policies on competition.