Managers of energy companies said that they were reluctant to invest in Romania after two legislative amendments within two years have shaken the confidence in the long-term profitability of the local energy sector.

Sudden changes in legislation have messed energy investment plans for foreign companies, reports local Ziarul Financiar.

"We're going to parent groups, and they say our projects are not credible,” said investors during the ZF Power Summit ‘15.

In 2013, the state changed the support scheme for green energy producers, by halving the number of green certificates.

Last year it reduced the regulated rate of return for the distribution of energy resources from 8.52% to 7.7%.

editor@romania-insider.com