Bucharest’s heat producer agrees with Romgaz to stagger debt

Bucharest thermal energy producer Elcen has agreed with gas producer Romgaz to stagger payments on its debt, so that Bucharest’s residents can have hot water and heating during the 2015-2016 winter. ELCEN hasn’t paid its debt to Romgaz, because the company didn’t receive the subsidy from the local authorities, which needs to be approved by the Bucharest’s General Council, said Octavian Nicolaescu, ELCEN general director, reports local Agerpres. Romgaz recently announced that it would supply gas to ELCEN by October 15, 2015, and that if the energy producer doesn’t come up with a plan to pay its overdue debt by then, it could stop the gas supply leaving Bucharest without heat. editor@romania-insider.com