Romanian electricity distributor plans EUR 193 mln investments

Romanian electricity distributor Electrica’s shareholders have approved its investment plan for this year, which amounts to over EUR 193 million. The investors have also approved the limits for the management contracts. The shareholders, however, haven’t approved the consultants’ proposal for Board member compensation. They postponed the discussions for the next shareholders’ meeting. Eletrica has about 3.5 million customers, through its distribution subsidiaries and six energy services companies. The company recorded last year a net profit of EUR 63 million, up sevenfold compared to 2013. The increase was due to the better results of its distribution and supply subsidiaries, which increased their dividend payments to Electrica, the parent company. editor@romania-insider.com