RO utility group Electrica merges regional distribution branches
Bucharest-listed energy group Electrica, the biggest local player in the electricity distribution and supply market, has completed the first stage of the merger by absorption of its three regional distribution branches.
The three branches, which serve clients in Romania's Transylvania and northern Muntenia regions, will merge under DEE Romania (DEER).
"It is a major project that will allow us to streamline costs, accelerate the digitization of major business processes, and improve operational performance to increase the quality of services provided," said Corina Popescu, CEO of Electrica.
The three branches have resulted from the initial reorganization of the Electrica national company, in 2005, into eight regional branches - that were later subject to electricity distribution/supply unbundling.
Five branches were privatized while Electrica, with the three branches left, was listed.
Electrica's regional branches currently cover 40.7% of the national territory and 3.8 million customers.
From 2014 until now, the Electrica group has become the largest investor in the modernization and refurbishment of electricity distribution networks with RON 4.39 billion (some EUR 900 mln, at the current exchange rate) invested.