EC reportedly gives Romania four-month extra time to appoint new managers at 48 SOEs

The European Commission (EC) will reportedly give Romania four more months to appoint permanent management under competitive procedures at 48 state-owned enterprises (SOEs) in the energy sector, after the Romanian government agreed to double the fine paid by the country and the penalties charged to those responsible (ministers) if the milestone set under the Resilience Plan with a EUR 227 million financing attached is not met by March 31, 2026, according to Profit.ro.

This is one of the milestones with a total of some EUR 869 million financing attached (including EUR 841 million of grants and EUR 55 million of loans), supposed to be met by November 28, after they were already deferred by six months by the European Commission.