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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

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Romania's Govt. reportedly facilitates electricity imports for Alro

Energy minister Virgil Popescu told Alro Slatina trade unionists that he was in talks for the company to buy electricity from power generators from Bulgaria and Serbia, according to the leader of the Free Trade Union Alro, Ioan Popa, Profit.ro reported.

The statement comes in the context of Alro management announcing the plant to operate at 40% of its nameplate capacity this year because of the scarce and expensive electricity it can buy from the local market. The trade unions have organised protests last week and urged the Government to step in, provided that many employees at Alro and its suppliers risk losing their jobs.

Minister Popescu assured that the local market should operate better after some regulatory amendments were enacted at the end of 2021. At the same time, he said that state-controlled power company Nuclearelectrica still has the electricity to sell after March 2022, while long-term contracts for 2023 can be sealed as well.

After minister Popescu assured of Government's support, the company's shares rose by 7% (+13% for the whole week), according to Ziarul Financiar.

Later on Friday, trade union representatives mentioned the option of importing electricity from Serbia or Bulgaria - yet it remains unclear who the foreign generators would be.

Alro is controlled by the Russian group Vimetco. 

andrei@romania-insider.com

(Photo source: Picabay.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Romania's Govt. reportedly facilitates electricity imports for Alro

Energy minister Virgil Popescu told Alro Slatina trade unionists that he was in talks for the company to buy electricity from power generators from Bulgaria and Serbia, according to the leader of the Free Trade Union Alro, Ioan Popa, Profit.ro reported.

The statement comes in the context of Alro management announcing the plant to operate at 40% of its nameplate capacity this year because of the scarce and expensive electricity it can buy from the local market. The trade unions have organised protests last week and urged the Government to step in, provided that many employees at Alro and its suppliers risk losing their jobs.

Minister Popescu assured that the local market should operate better after some regulatory amendments were enacted at the end of 2021. At the same time, he said that state-controlled power company Nuclearelectrica still has the electricity to sell after March 2022, while long-term contracts for 2023 can be sealed as well.

After minister Popescu assured of Government's support, the company's shares rose by 7% (+13% for the whole week), according to Ziarul Financiar.

Later on Friday, trade union representatives mentioned the option of importing electricity from Serbia or Bulgaria - yet it remains unclear who the foreign generators would be.

Alro is controlled by the Russian group Vimetco. 

andrei@romania-insider.com

(Photo source: Picabay.com)

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