ECONOMY

Romania is set to decide on energy holding by year-end

BUCHAREST (Reuters) – Romania’s centrist government will approve the structure of an integrated energy holding company by the end of the year, Prime Minister Calin Tariceanu told the state news agency on Saturday. Finance and Economy Minister Varujan Vosganian had said the state will hold 25 to 40 percent of the company that would pull together state-owned power transporters, distributors and producers from the nuclear, thermal and hydro sectors. Asked by state news agency Rompres in an interview if the government had reached a decision on the future holding’s structure, Tariceanu said: «No. But this does not mean that we gave up the project. In the next two weeks, we will make an assessment that will be the basis for making a decision regarding setting up the national energy company.» In September, the cabinet approved a long-term energy strategy that stipulates the creation of an energy holding and envisages investment of about -35 billion in the sector. Bucharest plans to become an important electricity exporter in the region by 2020, as the strategy envisages doubling the country’s power output to around 100 TWh, which would be more than estimated domestic consumption.